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CIPS L4M2 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Stakeholder management in defining needs15-20%- Identify and classify stakeholders
  • 1. Power/interest matrix and engagement strategies
  • 2. Internal vs external stakeholders
- Align needs with organisational objectives
  • 1. Strategic alignment and value contribution
- Communicate and consult with stakeholders
  • 1. Methods for gathering requirements
  • 2. Resolving conflicting requirements
Topic 2: Use specifications in procurement and supply20-25%- Advantages and limitations of specification types
  • 1. Risk, cost, flexibility, supplier innovation impact
- Sources for developing specifications
  • 1. Suppliers, industry benchmarks, regulatory requirements
  • 2. Internal stakeholders, technical experts, standards bodies
- Types of specifications
  • 1. Conformance vs performance specifications
  • 2. Output/outcome-based specifications
  • 3. Drawings, samples, brands, technical standards
Topic 3: Devise a business case for requirements sourced externally20-25%- Estimate costs and prices for procurement activities
  • 1. Cost estimation and budgeting methods
  • 2. Total cost of ownership / whole life costing
  • 3. Market data sources for cost/price information
  • 4. Direct and indirect costs
- Criteria for creating business cases
  • 1. Benchmarking requirements
  • 2. Costs, benefits, options, alignment, timescales
- Influence of business needs on procurement decisions
  • 1. Impact of business needs on purchase types
  • 2. Procurement's role in developing business cases
  • 3. Types of purchase: new, modified rebuy, straight re-buy
- Interpret financial budgets for purchase control
  • 1. Budget performance and variance management
  • 2. Cash flow and cost entries
  • 3. Purpose and structure of budgets
Topic 4: Legal and regulatory considerations10-15%- Legislation affecting requirements definition
  • 1. Procurement regulations, competition law, standards
- Sustainability and ethical requirements
  • 1. Environmental, social, ethical criteria
Topic 5: Market management in procurement and supply20-25%- Assess market forces and trends
  • 1. Global vs local market conditions
  • 2. Supply and demand dynamics
  • 3. Technological, legal, economic, social factors
- Evaluate market information sources
  • 1. Industry reports, government data, trade journals
  • 2. Supplier intelligence and market research
- Analyse market structures and competition
  • 1. Impact of market structure on procurement strategies
  • 2. Perfect competition, monopoly, oligopoly, monopolistic competition

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CIPS Defining Business Needs Sample Questions (Q297-Q302):

NEW QUESTION # 297
Which of the following are major factors when determining the bargaining power of buyers? Select THREE that apply.

Answer: A,B,C


NEW QUESTION # 298
At which stage of product life cycle, price competition between sellers will be the most intense?

Answer: C

Explanation:
The term product life cycle refers to the length of time a product is introduced to consumers into the market until it's removed from the shelves. The life cycle of a product is broken into four stages-introduction, growth, maturity, and decline.
Chart, line chart Description automatically generated
Source: https://blueoceanoutsource.co.ke/the-product-life-cycle-concept/ At maturity stage, price competition sets in as more and more supply capacity has been added by new entrants, then the competition will be the most intense.
Reference: CIPS study guide page 90-91
LO 2, AC 2.2


NEW QUESTION # 299
What will be the result of retaliation between business rivals in an industry?

Answer: A

Explanation:
Industry rivalry-or rivalry among existing firms-is one of Porter's five forces used to deter-mine the intensity of competition in an industry. Other factors in this competitive analysis are:
- Barriers to entry
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of substitutes
Industry rivalry usually takes the form of jockeying for position using various tactics (for example, price competition, advertising battles, product introductions). This rivalry tends to increase in intensity when companies either feel competitive pressure or see an opportunity to improve their position.
In most industries, one company's competitive moves will have a noticeable impact on the competition, who will then retaliate to counter those efforts. Companies are mutually dependent, so the pattern of action and reaction may harm all companies and the industry.
Some types of competition (for example, price competition) are very unstable and negatively influence industry profitability. Other tactics (for example, advertising battles) may positively influence the industry, as they increase demand or enhance product differentiation.
References
Porter, M. (1998). Competitive Strategy. New York: Free Press. pp. 17-23.
CIPS study guide page 86-87
LO 2, AC 2.2


NEW QUESTION # 300
When analysing competitive forces in a market, which of the following indicate that a supplier has low bargaining power? (Select TWO)

Answer: A,B

Explanation:
Comprehensive and Detailed Explanation (from CIPS L4M2 - Market and Supplier Power) Supplier power decreases when:
* Many substitutes exist (buyers can switch easily).
* Low switching costs allow buyers to change suppliers without penalty.
Options A, C, and E describe conditions that increase supplier power or are irrelevant to it.
Hence, B and D are correct.
Relevant L4M2 references:
* "Supplier power within Porter's Five Forces"
* "Factors reducing supplier influence: substitution and switching costs"


NEW QUESTION # 301
Which of the following are considered as direct costs in a construction company? Select TWO op-tions

Answer: B,D

Explanation:
Direct costs are directly associated with the production of a good or service. In this question, 'An employee is hired to work on a project, either exclusively or for an assigned number of hours' and 'Raw materials' are directly related to producing the product.
Indirect costs are the general costs of the organisation - these costs cannot easily be attributed to specific products or services (also known as overheads). 'The materials and supplies needed for the company's day-to- day operations' or 'Clerical assistants who maintain the office' or 'Advertising and marketing communication' is example of indirect cost.
Reference: CIPS study guide page 25-26
LO 1, AC 1.2


NEW QUESTION # 302
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