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CIPS L4M2 Exam Syllabus Topics:

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

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CIPS Defining Business Needs Sample Questions (Q278-Q283):

NEW QUESTION # 278
At which stage of product life cycle, price competition between sellers will be the most intense?

Answer: B

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.


NEW QUESTION # 279
An internal stakeholder has requested advice on how to draft an effective set of project specifications.
Which of the following responses are appropriate?
1. Encourage internal stakeholders to collaborate and share insights for better specification development
2. Draft specifications that include additional requirements outside of the initial scope to ensure added value can be demonstrated
3. Keep specification details restricted and limit engagement to maintain a competitive advantage
4. Regularly review and update specifications to adapt to industry changes and technological advancements

Answer: A


NEW QUESTION # 280
Buyer power may make a supply market more competitive. Which of the following are examples of buyer power? Select TWO that apply.

Answer: B,C


NEW QUESTION # 281
When procuring an IT equipment, at which stage the buyer's expectations are translated into a technical specification?

Answer: B

Explanation:
IT equipment is typically linked with through-life contracts. This type of contract not only deal with the specification and the price of a machinery, but also other stages such as design, manufacture, installation, in- service support, decommission and disposal. Among these stages, the design stage is when buyer's requirements are translated into technically correct specification.
Reference: CIPS study guide page 131
LO 3, AC 3.2


NEW QUESTION # 282
A procurement manager includes provision on recovery from natural disaster into a through-life specification. Some suppliers suppose that provision is unnecessary. Is procurement manager's action justified?

Answer: B

Explanation:
Risks like natural disasters - fire, flood, or weather-related event, and cyber-attacks can disrupt the supply chain seriously. Threats and disruptions mean a loss of revenue and higher costs, which leads to a drop in profitability. And businesses can't rely on insurance alone because it doesn't cover all the costs and the customers who move to the competition. Risks must be identified early and supplier should have a plan that ensures continuous operations during disasters.
There are several steps many companies must follow to develop a solid business continuity plan. They include:
- Business Impact Analysis: Here, the business will identify functions and related resources that are time-sensitive. (More on this below.)
- Recovery: In this portion, the business must identify and implement steps to recover critical business functions.
- Organization: A continuity team must be created. This team will devise a plan to manage the disruption.
- Training: The continuity team must be trained and tested. Members of the team should also complete exercises that go over the plan and strategies.
Reference:
LO 3, AC 3.2


NEW QUESTION # 283
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