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CIPS L4M2 Exam Syllabus Topics:

Section	Weight	Objectives
Legal and regulatory considerations	10-15%	- Legislation affecting requirements definition 1. Procurement regulations, competition law, standards - Sustainability and ethical requirements 1. Environmental, social, ethical criteria
Devise a business case for requirements sourced externally	20-25%	- Interpret financial budgets for purchase control 1. Cash flow and cost entries 2. Budget performance and variance management 3. Purpose and structure of budgets - 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 - Estimate costs and prices for procurement activities 1. Market data sources for cost/price information 2. Direct and indirect costs 3. Cost estimation and budgeting methods 4. Total cost of ownership / whole life costing - Criteria for creating business cases 1. Benchmarking requirements 2. Costs, benefits, options, alignment, timescales
Use specifications in procurement and supply	20-25%	- Types of specifications 1. Drawings, samples, brands, technical standards 2. Conformance vs performance specifications 3. Output/outcome-based specifications - Sources for developing specifications 1. Suppliers, industry benchmarks, regulatory requirements 2. Internal stakeholders, technical experts, standards bodies - Advantages and limitations of specification types 1. Risk, cost, flexibility, supplier innovation impact
Market management in procurement and supply	20-25%	- Evaluate market information sources 1. Supplier intelligence and market research 2. Industry reports, government data, trade journals - Analyse market structures and competition 1. Perfect competition, monopoly, oligopoly, monopolistic competition 2. Impact of market structure on procurement strategies - Assess market forces and trends 1. Technological, legal, economic, social factors 2. Global vs local market conditions 3. Supply and demand dynamics
Stakeholder management in defining needs	15-20%	- Communicate and consult with stakeholders 1. Resolving conflicting requirements 2. Methods for gathering requirements - Identify and classify stakeholders 1. Internal vs external stakeholders 2. Power/interest matrix and engagement strategies - Align needs with organisational objectives 1. Strategic alignment and value contribution

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CIPS Defining Business Needs Sample Questions (Q247-Q252):

NEW QUESTION # 247
Which of the following is an advantage of competitive benchmarking over other types of bench-marking?

A. Different corporate culture
B. Similarity among processes
C. Cost effectiveness
D. Limited access to competitor's data

Answer: B

Explanation:
Competitive benchmarking
Competitive benchmarking is a direct competitor-to-competitor comparison of a product, service, process, or method. This form of benchmarking provides an opportunity to know yourself and your competition better; combine forces against another common competitor. An example of competitive benchmarking within the Department of Defense, might include contrasting Army and Air Force supply systems for Joint initiatives.
Within the private sector, two or more American car companies might benchmark for mutual benefit against common international competitor; or, rival chemical companies benchmark for environmental compliance.
Benefits
- Comparing like processes
- Know your competition better
- Possible partnership
- Useful for planning and setting goals
- Similar regulatory issues
Challenges
- Difficult legal issues
- Relatively low performance improvement
- Threatening
- Limited by trade secrets
- May provide misleading information
- May not get best-in-class comparisons
- Competitors could capitalize on your weaknesses
Source: USN Benchmarking Handbook

NEW QUESTION # 248
Which of the following is an advantage of competitive benchmarking over other types of bench-marking?

A. Different corporate culture
B. Similarity among processes
C. Cost effectiveness
D. Limited access to competitor's data

Answer: B

NEW QUESTION # 249
A buyer can use sources of information to review indirect costs associated with the manufacture of goods to support supplier negotiations. Is this statement true?

A. Yes, because indirect costs are always variable
B. Yes, because the buyer can understand the cost build-up of the goods
C. No, because the supplier's quotation is the only source of information
D. No, because the only information available is for direct costs

Answer: B

Explanation:
Detailed Explanation:
Analyzing both direct and indirect costs helps buyers understand cost structures and negotiate effectively.
Indirect costs, like overheads, can be identified through supplier data and market benchmarks, aiding in cost transparency. Reference: CIPS Level 4, Cost Management and Negotiation.

NEW QUESTION # 250
It could be argued that wherever possible, specifications should be more output and outcome focused. Why is this?

A. To allow as many suppliers as possible to respond
B. So that a specific branded product is provided
C. To reduce the number of options available
D. So that they can be amended easily after contract award

Answer: A

NEW QUESTION # 251
A company is planning the procurement of an IT system and wants to agree a through-life contract with the supplier to ensure ongoing system support. The first step in producing that specification should be to:

A. Prepare tendering documents
B. Define the user requirements
C. Identify the IT system supplier
D. Build a design

Answer: B

Explanation:
Writing a high-quality specification is very crucial in every purchase. In through-life management, it is even more important since the assets often have very high value. Defining user requirement is the first step to write a specification. Without doing this right, many problems may arise in later stages.
Reference: CIPS study guide page 132
LO 3, AC 3.2

NEW QUESTION # 252
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