Project Initiation and Budgeting

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Which term refers to the act of obtaining goods or services, typically for business purposes?

Procurement system

In which sector were both the public and private sectors practicing the traditional procurement system in Malaysia?

Construction sector

Which phase of a project involves scope definition and strategy?

Phases of a project

When did Malaysia adopt a new procurement system?

<p>1990s</p> Signup and view all the answers

What type of procurement system did Malaysia adopt from the British?

<p>Traditional procurement system</p> Signup and view all the answers

What is the purpose of a procurement system in Malaysia?

<p>To obtain goods or services for business purposes</p> Signup and view all the answers

What is the main focus of the economic feasibility study?

<p>To determine if a project is financially viable</p> Signup and view all the answers

Who typically needs to solicit services or purchase goods on a relatively large scale?

<p>Companies</p> Signup and view all the answers

When did Malaysia start adopting a new procurement system?

<p>From the 1990s</p> Signup and view all the answers

What is the purpose of the development of project estimates?

<p>To estimate the cost and resources required for a project</p> Signup and view all the answers

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