Revenue-earning possibilities which are foregone as a result of implementing a plan; the cost of not doing something else.
Which one of the following could not be classed as a form of performance specification?
What is the name given to costs which do not vary as activity levels in a business increase or de-crease?
Which two of the following constitute part of a common risk assessment or risk evaluation formula?
‘The CIPS Code of Conduct states that procurement professionals should not accept any business gifts under any circumstances.’ True or false?
In which quadrant of a SWOT analysis would ‘well-developed management skills, unique intellec-tual property rights and sound financial backing’ appear?
Which STEEPLE factor deals with issues of import taxes, rising home labour costs, regional grants, stability of governing regimes?
Which of the following are internal factors in supplier decision-making? Choose two.
Qualitative research / data can accurately be described as XXX rather than 'counting'. What is XXX?
Under a XXXX contract, the buyer does commit to purchase a given quantity over a given period of time, but the precise number of orders and their quantities is unknown at the start of the period. What expression has been replaced by XXXX?
Which of the following would not normally be part of data required by the buying organisation’s contract manager?
If your organisation takes out insurance cover to address various risks, which one of the following risk management strategies is it adopting?
Where all does not go well on a contract and there are significant increased costs of implementation, a contract clause may exist whereby both buyer and contractor share the unanticipated additional costs using a pre-agreed formula. What is the expression which describes such an arrangement?
When both buyer and seller share cost information with each other (in both directions), in order to collaborate in cost reduction activities.
In the written presentation of a business case, a brief explanation of everything in the case, includ-ing the ultimate recommendation, aimed at people (eg senior managers) who have little time to plough through the details.
‘When the best XXX is selected, a formal YYY ZZZ is prepared and sent to the supplier. Choose the most likely words to replace XXX, YYY and ZZZ.