Section 12.105 Acquisition and Procurement

Question 1

Acquisition

Answer 1

Process of obtaining goods and services

Question 2

Procurement

Answer 2

Entire process of sourcing and obtaining those goods and services, including all the processes that lead up to the acquisition

New piece of software: Organisations will have a structure in place to purchase

Question 3

Conducting the acquisition and procurement process:

Company Credit Card

Understand the different types of purchase options

Answer 3

○ Quick purchase of low-cost items

○ Transaction limits and item restrictions

e.g Printer ink

Question 4

Conducting the acquisition and procurement process:

Individual Purchase

Understand the different types of purchase options

Answer 4

○ Employee purchases then seeks reimbursement

○ Used in emergencies or when no company credit card is available

e.g Company travel - flights, hotel etc

Question 5

Conducting the acquisition and procurement process:

Purchase Order (PO)

Understand the different types of purchase options

Answer 5

○ Formal document issued by the purchasing department

○ For larger, more expensive purchases

○ Dictates payment terms (NET 15, NET 30, NET 60)

NET meaning how long they have to pay you back (SLA’s)

Question 6

Internal Approval Process

Answer 6

■ Ensures purchase alignment with company goals

■ Validates budget allocation

■ Assesses security and compatibility with existing infrastructure

Question 7

Post-Approval Procurement

Answer 7

■ Product compatibility assessment

■ Security checks and configurations

■ User training

■ Integration into the existing workflow