The impact of cognitive biases on procurement: How to minimise errors and achieve better procurement outcomes (VIRTUAL)

Planning and carrying out procurement relies on a number of decisions being made along the way. From assigning the right people to the procurement, to selecting the best clauses for your contract, and ultimately choosing your supplier – procurement outcomes are only as good as the decisions we make.

However, the human mind is not a perfect decision-making machine. Cognitive biases – instances where our minds make systemic deviations from rationality – can impact our decisions both on a conscious and unconscious level. Yet when we’re using public resources to carry out procurement, our decisions need to be reasonable, defensible, and made using the best available information.

In this presentation, understand some of the most common cognitive biases that can impact the procurement process –– including  AVAILABILITY, ANCHORING, CORRECTING & INCUMBENCY biases - and what you can do to minimise their impact and achieve better outcomes

Your expert facilitator

Sean King, Co-Founder & Director and Twoey Jones, Senior Advisor, Proximity

Register for Event

---