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| Section | Weight | Objectives |
|---|---|---|
| Legal and regulatory considerations | 10-15% | - Legislation affecting requirements definition
|
| Stakeholder management in defining needs | 15-20% | - Communicate and consult with stakeholders
|
| Devise a business case for requirements sourced externally | 20-25% | - Influence of business needs on procurement decisions
|
| Use specifications in procurement and supply | 20-25% | - Advantages and limitations of specification types
|
| Market management in procurement and supply | 20-25% | - Analyse market structures and competition
|
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NEW QUESTION # 313
Royal Navy is preparing a through-life contract. They put to the contract a term on rectification of operational defects and planning and delivery of Fleet Time Support Periods. Which part of through-life requirement does this term belong to?
Answer: A
Explanation:
There are 6 main components of the through-life requirements of an asset: Design, Manufacture, Installation, In-service support, Decommission and disposal and Customer support.
Rectification of operational defects and planning and delivery of Fleet Time Support Periods are maintenance activities which belong to in-service support. You may have chosen Customer support. However, in through- life asset management context, customer support does not include maintenance services. Instead, it is the services that go along the stages of asset life. It may include consulting, communication and information exchange.
Diagram, table Description automatically generated
Source: Andrew Graves
Reference: CIPS page 130-131
LO 3, AC 3.2
NEW QUESTION # 314
John has been asked to develop a business case before obtaining approval to purchase a large piece of capital equipment for a glove manufacturing unit. Is this the right thing to do?
Answer: A
Explanation:
Detailed Explanation:A business case allows for the evaluation of alternatives and ensures alignment with strategic goals. It also assesses risks, benefits, and financial impact, providing a comprehensive basis for decision-making. Reference: CIPS Level 4, Capital Expenditure and Business Case Development.
NEW QUESTION # 315
A garment manufacturer supplies global retailers with t-shirts, shirts, and linen trousers. Because of currency fluctuations, the manufacturer is aware that they must control their direct costs in order to ensure profits. Which of the following is a direct cost for the garment manufacturer?
Answer: B
Explanation:
Detailed Explanation:
Cotton fabric is a direct cost because it is directly attributable to the production of the garments. Costs like rent, utilities, and payroll are indirect costs associated with running the business. Reference: CIPS Level 4, Cost Categorization in Procurement.
NEW QUESTION # 316
As the lead procurement manager, you are asked to compile a business case for a large project. Which should be included?
* Costs and risks
* List of large suppliers
* Business benefits
* Informal recommendation
Answer: C
Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2: Business Case Development) A business case should include:
* Costs and risks (financial, operational, reputational)
* Expected business benefits (value, performance, compliance)
Supplier lists or informal notes are not part of a formal business case.
Relevant CIPS L4M2 Sections:
* Key contents of a business case
* Risk and benefit analysis in procurement justification
NEW QUESTION # 317
Which of the following is a risk to buying organization when using conformance specification?
Answer: B
Explanation:
When using conformance specification, the buying organisation is responsible for the performance of the purchase. If the product fails due to poorly designed specification, the buyer is wholly responsible for it. It cannot blame the supplier for the failure because they still provided 'fit for purpose' product.
'Time to produce specification is shortened': Conformance specification requires details on dimen-sion, materials, design, etc. With such requirements, time to produce a complete conformance specification is often longer than producing performance specification.
'Buyer cannot control the inputs': Conformance specification is a list of inputs from buyer, so buyer has control over the inputs that will make the product. It also means that buyer is responsible for any product failure.
'Buyer may face liquidity risks': Liquidity means that how quick a business turns its assets into cash. This is a financial term, it does not link directly with specification failure.
NEW QUESTION # 318
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