CTCM exam 2023/2024 with 100% correct answers

Procurement Roles - correct answer Purchasing, contract development and contract management Purchasing - correct answer Receipt and processing of requisitions, issuance of purchase orders against existing contracts, and verification of inspection of merchandise or receipt of services. Does NOT include development of solicitations or awards that must be posted to ESBD Contract Development - correct answer Processing of requisitions, need assessments, development of specs, development of SOWs, selection of procurement methods, solicitation posting and bid evaluation, completion of award contracts. Does NOT include invoice or audit functions. Contract Management - correct answer Following contract execution, includes assessment of risks, verification of contractor performance, enforcement of terms, monitoring and reporting vendor performance, ensuring practices are consistent with State of Texas Procurement and Management Guide. Contract Value - correct answer The initial value of the contract, including anticipated extensions and renewals for the contract's full existence Statewide Procurement Division (SPD) - correct answer The entity that delegates purchasing authority to state agencies for non-IT goods and services Purchasing Authority - correct answer The ability of a state agency to purchase goods and services using state funds Delegation of Purchasing Authority - correct answer Assigning purchasing authority to an agency