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Understanding Procurement Methods and Management Process

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Understanding Procurement Methods and Management Process

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Questions and Answers

What is the purpose of a tender document?

To monitor and control project procurements

To invite suppliers to submit competitive bids (correct)

To outline steps for procuring goods/services

To allocate resources efficiently

Which procurement method is open to the public and provides equal opportunity to all parties?

Restricted Tendering

Closed Tendering

Selective Tendering

Open Tendering (correct)

What key activity is involved in the Conduct Procurements process?

Making changes and corrections as needed

Selecting a seller and awarding a contract (correct)

Managing procurement relationships

Monitoring contract performance

What is the main focus of Control Procurements in the procurement management process?

Monitoring and controlling project procurements Signup and view all the answers

What does RFT stand for in the procurement context?

Request for Tender Signup and view all the answers

In procurement management, what does Open Tendering provide to all parties?

Opportunity to submit competitive bids Signup and view all the answers

What is the purpose of a Request for Information (RFI) in procurement management?

To gather formal information from potential suppliers Signup and view all the answers

What is NOT a key feature of procurement activities according to the text?

Production of inputs Signup and view all the answers

Which document is used to ask vendors to submit price quotes for project items to allow comparison with other potential vendors?

Request for Quotation (RFQ) Signup and view all the answers

In procurement management, what does 'post qualification' refer to?

Awarding the contract Signup and view all the answers

What does the 'source-to-settle process' refer to in procurement management?

Selecting suppliers of production inputs Signup and view all the answers

Which step is involved in 'Close Procurements' in project procurement management?

Updating records to reflect final results Signup and view all the answers

What is the advantage of single-source procurement mentioned in the text?

Faster identification of problems Signup and view all the answers

What is the main purpose of PhilGEPS according to the text?

To promote transparency and efficiency in procurement processes Signup and view all the answers

What does the acronym BAC stand for in the context of procurement?

Bids and Awards Committee Signup and view all the answers

What issue may arise when practicing single-source procurement as per the text?

Inventory shortage during supplier bankruptcy Signup and view all the answers

Which document serves as the primary source of information in government procurement according to the text?

PHILGEPS - Philippine Government Electronic Procurement System Signup and view all the answers