Categorise the value and importance of the contract
Measure your contracts by their financial value and the strategic importance of the supplier, to map them roughly onto the matrix below.
For the financial value, you can decide how to place it, but as a rule of thumb:
- Anything which falls into your low to medium value buying threshold (whether you followed your own process or bought through a framework agreement) would be in the 'low value' half
- Anything that you bought above your high value threshold - whether through a framework or by running your own buying process for high value or above the Public Contracts Regulation (PCR) threshold - would be in the 'high value' half
How highly specialised their good/service is – something that's widely available is likely