NIGP CPP Module A| 150 QUESTIONS| WITH COMPLETE SOLUTIONS

A strategic plan is a course of action to achieve long-range goals, generally up to five years. Strategic plans reflect the company's direction and its purpose as stated in its mission statement. To develop strategic plans, top management must develop and use summary reports on finances, operations, and the external environment. correct answer: Strategic Plan A tactical plan is a course of action to achieve short-term goals, generally within a year or less. Tactical plans are concerned with what the units beneath top management must do, how they must do it, and who has the responsibility. These plans have shorter time frames and narrower scopes than strategic plans. correct answer: Tactical Plan Obtain the Entity and Departmental (if available) Mission, Goals, and Objectives. Establish and train a Strategic Procurement Planning Team. Review Strengths, Weaknesses, Opportunities, and Threats (SWOT) of the procurement function. Update the Procurement Department's mission, goals, and objectives, if necessary, based on the above SWOT review. Review the projected budget for the entity to determine likely procurements for the coming year. correct answer: Steps to take to create a Procurement Strategic Plan Is the objective logically related to an identified goal? Does each objective describe an output or outcome in terms of identified targets, and are they time based?