Answer to Question #145564 in Management for Kamogelo

Question

Using an example each, provide a brief explanation of the following procurement
terms:
(8)

Q.2.2.1 Plan Procurement;
Q.2.2.2 Expert Judgement;
Q.2.2.3 Inspection and Audits;
Q.2.2.4 Close Procurement.

Answer 1

Q.2.2.1 Plan Procurement

This is an annual document that usually describes the products and services that a Public Body will obtain from external suppliers.

Q.2.2.2 Expert Judgement;

It refers a specifically to a technique in which judgment is made based upon a specific set of criteria and/or expertise that has been acquired in a specific knowledge area, or product area, a particular discipline, an industry, etc.

Q.2.2.3 Inspection and Audits

Inspections are a “do” and audits are a “check”. An inspection is typically something that a site is required to do by a compliance obligation. An audit is the process of checking that compliance obligations have been met, including that the required inspections have been done.

Q.2.2.4 Close Procurement.

Procurements are closed when a contract is completed OR when a contract is terminated before the work is completed. The Close Procurements is a part of Closing Process Group. All procurements must be closed out, no matter the circumstances under which they stop, are terminated, or are completed.