APM PFQ Exam - 1d. Procurement
Strategy
Define 'Procurement' - correct answer ✔✔securing the goods and services from external suppliers to
satisfy project, programme and portfolio needs
Procurement typically covers the acquisition of? - correct answer ✔✔-Commercial 'off the shelf' goods
and services
-Goods or services that are designed and explicitly provided for the project or purchaser
-Professional advice or consultancy
What is the purpose of the project level procurement strategy? - correct answer ✔✔Addresses the
project's needs whilst respecting any relevant organisational constraints (for example, ethical
procurement policies) and/or strategic objectives.
Why must stakeholders understand the rules of procurement? - correct answer ✔✔Getting it wrong can
have a detrimental effect on the financial efficiency of a project in the acquisition of resources. It can
also cause delays to the schedule in the provision of the resources and possibly, in extreme cases, leave
the organisation or the individual facing legal consequences.
Additional considerations? (bonus points) - correct answer ✔✔1. How much risk to retain in the project
and how much to share with suppliers in the supply chain?
2. What type of relationship is desired with various suppliers, from simply buying things when needed to
working collaboratively in partnership to design solutions?
Typical content of a procurement strategy - correct answer ✔✔
Strategy
Define 'Procurement' - correct answer ✔✔securing the goods and services from external suppliers to
satisfy project, programme and portfolio needs
Procurement typically covers the acquisition of? - correct answer ✔✔-Commercial 'off the shelf' goods
and services
-Goods or services that are designed and explicitly provided for the project or purchaser
-Professional advice or consultancy
What is the purpose of the project level procurement strategy? - correct answer ✔✔Addresses the
project's needs whilst respecting any relevant organisational constraints (for example, ethical
procurement policies) and/or strategic objectives.
Why must stakeholders understand the rules of procurement? - correct answer ✔✔Getting it wrong can
have a detrimental effect on the financial efficiency of a project in the acquisition of resources. It can
also cause delays to the schedule in the provision of the resources and possibly, in extreme cases, leave
the organisation or the individual facing legal consequences.
Additional considerations? (bonus points) - correct answer ✔✔1. How much risk to retain in the project
and how much to share with suppliers in the supply chain?
2. What type of relationship is desired with various suppliers, from simply buying things when needed to
working collaboratively in partnership to design solutions?
Typical content of a procurement strategy - correct answer ✔✔
