1. Assume that you are buying ServiceNow software and deployment services for service desk management. This is for the IT department only, but it affects the whole company in how services from IT will be provided. You have licensing on a subscription basis each year and consulting services to pay for in being able to roll out the software to the IT department.
2. Include a Word document with a paragraph for each of the ways to identify risk management aspects of this contract. Document how you would satisfy risk management for this contract.

The following are the ways to identify risk management aspects of this contract (as mentioned in the textbook)

Force majeure issues. Market fluctuations. Although the above list might look daunting to a contract manager, the good news is that these can be avoided with a proactive approach to risk management. In addition to doing a risk assessment before finalizing a contract, establish a contract term that binds and encourage the supplier to flag issues, as soon as they detect. Identify possible categories, stages or activities where a risk might be encountered and assign the party best capable of mitigating the particular risk. Consider cases where risks might not be in your control. The cost and legal implications of transferring the responsibility of risk remediation to supplier should be discussed in advance. Business risks arising from contractual activities must be addressed by the organization.