Basic Information

Reference Number

0000186163

Issuing Organization

McMaster University

Owner Organization

Office of Audit & Risk Services

Solicitation Type

RFP - Request for Proposal (Formal)

Solicitation Number

JC 04-20-779

Title

Review of McMaster’s Enterprise Risk Management Program

Source ID

PU.AC.ON.224221.C98699

Agreement Types

Broader Public Sector (BPS)

Canada-European Union Comprehensive Economic and Trade Agreement(CETA)

Canadian Free Trade Agreement (CFTA)

Details

Location

Canada, Ontario

Delivery Point

McMaster University

Purchase Type

Duration: 6 months
Option: Up to an additional 6 months

Description

Background and Purpose

McMaster University hereby invites qualified proponents to submit proposals for an external review of the University’s Enterprise Risk Management Program in accordance with this Request for Proposal. This includes risk identification, assessment, measurement, mitigation, management and reporting and supporting processes. Proponents must quote the entire bid. Partial bids will not be accepted.
McMaster University is dedicated to providing high-quality, innovative education, enabling cutting-edge research, and proactively engaging with the broader community of which we are a part. McMaster University has had an Enterprise Risk Management Program in place since the late 1990s and has always taken a continuous improvement approach to ensure that the program is relevant and effective. The Program has assisted in supporting and contributing to the University’s success in achieving and advancing its mission and strategic priorities now and in the future by identifying and monitoring risk, related tolerances and opportunities.
Within this context, McMaster has adopted a formal University-wide Risk Management Program that is based on the ISO 31000 Enterprise Risk Guideline, and best practices used in the Post Secondary Education as well as approaches from other sectors as applicable. The flexibility of the ISO Guideline: 2009 and the recent update released February 2018, has given the University the ability to tailor the University’s Program to reflect and support our culture and organizational uniqueness. The Program takes a top-down approach involving all areas of the institution (academic, research and administrative).

Scope/Objective

The scope of the external risk expertise review includes McMaster’s Enterprise-wide Risk Management (ERM) Program and supporting processes.
The objectives below provide and overview of requirements and deliverables for successful completion of this engagement:

Identify gaps and provide recommendations for the current ERM process, specifically risk identification, risk assessment, risk measurement, risk mitigation, and management and reporting components;
Review the current ERM Program roles and responsibilities, resource requirements and provide recommendations of immediate improvements and potential future enhancements;
Provide recommendations on types of quantification measures, optimal approach to enterprise-wide introduction and integration;
Provide recommendations on approach and enhancements focused on value-added support of strategic planning and decision-making;
Provide recommendations on aspects for consideration from sectors or organizations outside of higher education that could advance McMaster’s risk culture, risk approach and processes.

Term

The term of this agreement is the period of time required to complete the Deliverables, which is estimated at six (6) months. The University has the option to extend the term for up to an additional six (6) months as required.

Dates

Publication

2020/11/02 01:41:00 PM EST

Question Acceptance Deadline

2020/11/24 02:00:00 PM EST

Closing Date

2020/12/08 02:00:00 PM EST

Contact Information

James Carnemolla

905-525-9140 ext. 24587

carnemoj@mcmaster.ca

Bid Submission Process

Bid Submission Type

Physical Bid Submission

Additional Bidding Instructions

Proposals must be submitted through McMaster University’s online Bonfire portal at: https://mcmaster.bonfirehub.ca/opportunities Submissions by other methods will not be accepted. Proponents should contact Bonfire at Support@GoBonfire.com for technical questions related to submissions, or visit Bonfire’s help forum at https://bonfirehub.zendesk.com/hc. Proposals must be uploaded and finalized on or before the Submission Deadline set out in the RFP Timetable.

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