Project procurement Flashcards
1
Q
Procurement Strategy involves:
A
- Scope of Requirements
- Preliminary Planning
- Timetable
- Contract Management Arrangements
- Value for Money Benefits
- Major Contract Clauses
- Service Levels
- Estimate of Cost
- Proposed Sourcing Strategy
- Corporate + Legal Policy requirements
- Risk Management
- Roles & Responsibilities
- Change Mechanisms
- Evaluation
2
Q
Strategic Considerations in Procurement
A
- Use of single, integrated or multiple providers
- Required provider relationships
- Provider selection
- Conditions and form of contract
- Types of pricing and methods of reimbursement
3
Q
Supplier Selection Process
A
- Plan & Research
- Pre-Qualificaiton
- Invitation to Tender
- Answer Bidder Queries
- Receive & Evaluation Bids
4
Q
Contracts must contain:
A
- An offer made by one party which is accepted unqualified by the other party.
- An intention to create legal relations between the parties and for the parties to be bound by these obligations.
- A consideration passing from one party to the other in return for the provision of goods or services covered by the contract.
- Definite terms, so that it is clear as to what conditions the parties are agreeing.
- Legality, with only properly incorporated firms or competent persons entering into the contracts.
5
Q
Supplier Reimbursement Methods:
A
- Fixed Price
- Cost plus fee
- Per unit quantity
- Target cost
6
Q
Payment Methods
A
- Payment on Completion
- Advance Payment
- Milestone Payment
- Retention Payment
7
Q
Contractual Relationships
A
- Partnering
- Alliance
- Turnkey
