CPFO - Chapter 16 Procurement Policies
Exam 100% Solved!
Elements of Procurement Policies - ANSWERS1. Guiding values of public procurement
2. Objectives of the purchasing system
3. Purchasing authority
4. Exceptions to bidding
5. Purchasing preferences
6. Standards
2. Objectives of Purchasing Policies - ANSWERSBasic Objectives of purchasing
function:
1. Cost (lifecycle cost policy). E
2. Quality. E
3. Timeliness
4. Managing Risks
5. Accomplishing social and economic objectives
6. Maximizing competition. E
7. Maintaining integrity and transparency. E
Important Policy Element
5. Purchasing Preferences - ANSWERS1. Local Businesses
2. Minority business
3. Woman-owned business
4. Drug-free workplace
5. Recycled products or green purchasing
Common Procedural Elements - ANSWERSweighting the vendor selection criteria to
favor the preferred enterprises and reserving a percentage of the procurement budget
for the preferred enterprieses1. Guiding Values for Public Procurement Values -
ANSWERS1. Accountability - taking ownership and being responsible to stakeholders
for our actions.
2. Ethics - Acting in a manner true to the values
3. Impartiality - unbiased decision making and action.
4. Professionalism - upholding high standards of job performance and ethical behavior.
5. Service - Obligation to assist stakeholders
6. Transparency - easily accessible and understandable policies and procedures
Exam 100% Solved!
Elements of Procurement Policies - ANSWERS1. Guiding values of public procurement
2. Objectives of the purchasing system
3. Purchasing authority
4. Exceptions to bidding
5. Purchasing preferences
6. Standards
2. Objectives of Purchasing Policies - ANSWERSBasic Objectives of purchasing
function:
1. Cost (lifecycle cost policy). E
2. Quality. E
3. Timeliness
4. Managing Risks
5. Accomplishing social and economic objectives
6. Maximizing competition. E
7. Maintaining integrity and transparency. E
Important Policy Element
5. Purchasing Preferences - ANSWERS1. Local Businesses
2. Minority business
3. Woman-owned business
4. Drug-free workplace
5. Recycled products or green purchasing
Common Procedural Elements - ANSWERSweighting the vendor selection criteria to
favor the preferred enterprises and reserving a percentage of the procurement budget
for the preferred enterprieses1. Guiding Values for Public Procurement Values -
ANSWERS1. Accountability - taking ownership and being responsible to stakeholders
for our actions.
2. Ethics - Acting in a manner true to the values
3. Impartiality - unbiased decision making and action.
4. Professionalism - upholding high standards of job performance and ethical behavior.
5. Service - Obligation to assist stakeholders
6. Transparency - easily accessible and understandable policies and procedures
