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What are the eight elements of whole life asset management?
CORRECT TEXT What are the eight elements of whole life asset management?View AnswerAnswer: Whole life asset management is the process of evaluating the total price and all associated costs of a product to make an informed decision as to which option will provide the organization with the best value for...
What topics are covered within ethics?
CORRECT TEXT What topics are covered within ethics?View AnswerAnswer: Topics that are covered within ethics are;
What potential costs could an organization face if it fails to conduct Due diligence effectively?
CORRECT TEXT What potential costs could an organization face if it fails to conduct Due diligence effectively?View AnswerAnswer: Though strong due diligence procurement professionals can assess which suppliers or potential suppliers appear to meet the criteria associated with ethical practice. Prior to the contract being awarded, strong due diligence can...
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CORRECT TEXT Describe three ways in which a buyer could or test the market in other to assist with determining a need.View AnswerAnswer: Once the need has been understood, defined, justified and authorized, the next stages are to analyze and test the market. Analyzing and testing the market includes looking...
What is PQQ and what does it include?
CORRECT TEXT What is PQQ and what does it include?View AnswerAnswer: Pre-qualification questionnaire (PQQ) is often standard forms that buyers send to po-tential suppliers. The purpose is to ensure that these potential suppliers could, if they win the contract, supply the product or service to the standard required. PQQ includes...
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CORRECT TEXT Research the values and ethical code of practice of an organization with which you are familiar.View AnswerAnswer: Fullpower projects is a training firm that trains on project management and procurement. It has the following values and ethical code of practice 1) Accountability 2) selflessness 3) openness 4) integrity...
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CORRECT TEXT Research the ethical standard or accreditation of an industry with which you are familiar.View AnswerAnswer: If a supplier is accredited or is a member of an association that promotes good ethical conduct, a statement to this effect is likely to be featured on its company documentation. This could...
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CORRECT TEXT Describe the seven stages of the Tender Process and explain the reasons why the stages must be followed.View AnswerAnswer: The purpose of the tendering process is to invite potential suppliers to bid to supply a product or service to the buying organization. Then buying organization select suitable suppliers,...
What topics are covered within ethics?
CORRECT TEXT What topics are covered within ethics?View AnswerAnswer: Topics that are covered within ethics are;
Which sector most frequently uses invitation to tender?
CORRECT TEXT Which sector most frequently uses invitation to tender?View AnswerAnswer: The public sector uses tenders a lot more in the working environment than private sector.
