Risk in the procurement process can be defined as any uncertainty or danger that exists surrounding the completion of a project on time, within budget, and at the desired quality. It can include financial, operational, legal, environmental, and other problems which may arise throughout various stages of a procurement project. The risk management process is essential to successful procurement; it helps identify risks and provides strategies for mitigating them. Risk management involves recognizing potential risks and assessing their impact on the project, implementing preventive measures and strategies to reduce their occurrence, and ensuring adequate contingency plans are in place should they occur.