17 Questions
What is the purpose of a tender document?
To invite suppliers to submit competitive bids
Which procurement method is open to the public and provides equal opportunity to all parties?
Open Tendering
What key activity is involved in the Conduct Procurements process?
Selecting a seller and awarding a contract
What is the main focus of Control Procurements in the procurement management process?
Monitoring and controlling project procurements
What does RFT stand for in the procurement context?
Request for Tender
In procurement management, what does Open Tendering provide to all parties?
Opportunity to submit competitive bids
What is the purpose of a Request for Information (RFI) in procurement management?
To gather formal information from potential suppliers
What is NOT a key feature of procurement activities according to the text?
Production of inputs
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)
In procurement management, what does 'post qualification' refer to?
Awarding the contract
What does the 'source-to-settle process' refer to in procurement management?
Selecting suppliers of production inputs
Which step is involved in 'Close Procurements' in project procurement management?
Updating records to reflect final results
What is the advantage of single-source procurement mentioned in the text?
Faster identification of problems
What is the main purpose of PhilGEPS according to the text?
To promote transparency and efficiency in procurement processes
What does the acronym BAC stand for in the context of procurement?
Bids and Awards Committee
What issue may arise when practicing single-source procurement as per the text?
Inventory shortage during supplier bankruptcy
Which document serves as the primary source of information in government procurement according to the text?
PHILGEPS - Philippine Government Electronic Procurement System
Learn about procurement methods such as tendering and RFT, along with the procurement management process. Explore different methods like open tendering and their characteristics.
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