NIGP Procurement Terms set 2 Questions and Answers

NIGP Procurement Terms set 2 Questions and Answers Tax Burden - Answer-A measure of the taxes paid relative to another constant factor, such as total personal income. (Schiller, 2000) TCO - Answer-Total Cost of Ownership Team Development Stages - Answer-Stages include: 1. Forming - Members decide whether to join the group, learn the traits and strengths of other members and identify a leader; 2. Storming - The team experience developmental issues due to personality conflict and difficulty to agree on goals and priorities; 3. Norming - Team defines a set of rules and roles to coordinate group interaction and make the pursuit of goals effective. Team begins to work cohesively; 4. Performing - Team members work within the team structure agreed upon to achieve its goals and objectives; 5. Adjourning - The team completes the project/task and disbands. (Ferrell & Hirt, 2002) Team Leadership - Answer-Professor Robert Trent of Lehigh University identified ten requirements for effective team leadership: 1. Work with the team to establish and commit to performance goals; 2. Secure individual member involvement and commitment; 3. Manage internal team conflict; 4. Help maintain team focus and direction; 5. Secure required organizational resources; 6. Prevent team domination by a member or faction; 7. Deal with internal and external obstacles confronting the team; 8. Clarify and help define each member's role; 9. Provide performance feedback to team members; 10. Coordinate multiple tasks and manage the status of team assignments Technical Proposal - Answer-A response to a solicitation that describes in detail what an offeror proposes to do, furnish, and the method of delivery with no mention of cost. May be part of a two-step response contained within an offer, the second part being the price proposal Technical Specifications - Answer-A subset of design specifications that establishes the material and operating requirements of commodities Term Contract - Answer-A type of contract in which a source of supply is established for a specified period of time for specified services or supplies; usually characterized by an estimated or definite minimum quantity, with the possibility of additional requirements beyond the minimum, all at a predetermined unit price Termination for Convenience - Answer-A contract clause that may be contained within boilerplate language that allows for contract to be ended at the discretion of the governmental entity. Action by which the purchasing entity, in accordance with contract provisions, unilaterally cancels all or part of the contract work for the best interest of the jurisdiction, and with no reflection on the contractor's performance Termination for Default - Answer-A contract clause that may be contained within boilerplate language that allows either contracting party the right to cancel a contract, either in whole or in part, due to failure of the other party to perform satisfactorily Terms and Conditions (T's and C's) - Answer-Standard boilerplate language that includes standard clauses and rules that apply to bids and proposals formally solicited that may become incorporated into the final contract Terms of Contract - Answer-Stipulations made in contracts Terms of Payment - Answer-The methods of payment stipulated in a sales or purchasing contract Testing - Answer-That element of inspection that determines the physical, chemical, performance properties, and functional operation of items, or components thereof, using established scientific principles and procedures The Canadian Council for Public-Private Partnerships (CCPPP) - Answer-Established in 1993, CCPPP is a national not-for-profit non-partisan, member-based organization with broad representation from across the public and private sectors. Its mission is to promote innovative approaches to infrastructure development and service delivery through public-private partnerships with all levels of government. (CCPPP, 2015) Theory of Constraints (TOC) - Answer-Overall management philosophy introduced by Eliyahu Goldratt that is geared to help organizations continually achieve their goal. The philosophy holds that any manageable system is limited in achieving more of its goal by a very small number of constraints. There is always at least one constraint. The TOC process seeks to identify the constraint and structure the rest of the organization around it Theory X - Answer-A management theory of Douglas McGregor's that takes a traditional view of management, whereby it is assumed that workers generally dislike work and must be forced by managers and supervisors to do their jobs. (Business, 2002) Theory Y - Answer-A management theory of Douglas McGregor that takes a humanistic view of management, whereby it is assumed that workers like to work and that under proper conditions employees will seek out responsibility in an attempt to satisfy their social, esteem, and self-actualization needs. (Business, 2002) Theory Z - Answer-A management philosophy that stresses employee participation in all aspects of company decision making. (Business, 2002) Third Party - Answer-Generally, a contractor or supplier who ultimately receives monetary payment (grant funds) from the grantee as a result of rendering contractual goods or services in satisfaction of a contract that was funded by the grant Tie Bid Preference - Answer-A policy adopted by a public agency that gives preference to a local bidder only if the bid is identical to a bid from a non-resident bidder, all other aspects of the bid being equal. A way to break a tie bid. Other preference may include awarding the tie bid to a minority firm or small business or a bidder that resides within the state in which the bidding occurred Tie Bids - Answer-Bids submitted by two or more bidders that have identical pricing. May signal collusion Time and Materials Contract (T & M) - Answer-A contract that provides for contractor payment based on a direct labor, hourly rate that includes benefits, payroll taxes, overhead, and contractor profit and for the cost of materials and equipment used in performance of the contract Time Series Forecasting - Answer-Methods that use historical data as the basis of estimating future outcomes. A prediction based on the assumption that the trend of variations in the value of a variable will continue to recur in the future; that tomorrow will more or less resemble yesterday and today Time Utility - Answer-Utility that is created by making a product available when customers wish to purchase it. Time utility is an important consideration in most supply management decisions and it has a major impact on cost/price considerations. (Schiller, 2000) Time Value of Money - Answer-The idea that a dollar today is worth more than a dollar in the future, because the dollar in the hand today can earn interest during the time until the future dollar is received. (Bishop, 2004)