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NEW QUESTION 40
Value for money is often described at the 'three Es'; economy, efficiency and effectiveness. However some people consider a 4th E which refers to the public sector. What is the fourth E?

• A. Ethics
• B. Environment
• C. Equality
• D. Equity

Answer: D

Explanation:
Equity is the fourth E- this means the extent to which the service is available. See p.65 for details on the 4 Es

NEW QUESTION 41
The Kraljic Model is most useful for which aspect of procurement?

• A. cost analysis
• B. cost reduction
• C. risk management
• D. category management

Answer: D

Explanation:
The Kraljic model "plays a key part in category management" p.19 of the textbook. Category Management = the spend in an organisation, broken down into categories of related products (e.g. IT, facilities management, marketing). Each of these categories could be plotted on the Kraljic Matrix.

NEW QUESTION 42
Which of the following are NOT one of the four key principles of procurement in the EU?

• A. Value for Money
• B. Transparency
• C. Non-Discrimination
• D. Proportionality

Answer: A

Explanation:
Value for money is not a principle of EU procurement. The four key principles are; transparency, non-discrimination, proportionality and equality of treatment. The principles are basically about ensuring the procurement process is fair. See p.75

NEW QUESTION 43
Which of the following are Intellectual Property Rights that you would you encounter in procurement and supply contracts? Select THREE.

• A. Risk Assessments
• B. Method Statements
• C. Copywrite
• D. Patents
• E. Trademark

Answer: C,D,E

Explanation:
Intellectual Property Rights include; Patents, Copywrite, Trademarks and Trade Secrets. P.114

NEW QUESTION 44
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