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13 Cards in this Set
- Front
- Back
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Can procurement for engineering project be instant deal? |
No - Cos it requires time |
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Can verbal agreement be used in procurement for engineering project? |
No |
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Is the lowest bid always the best one for the employer? |
No - Reasonable lowest bid is sometimes acceptable |
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What is the preferred method of procurement to achieve value for money? |
Open Competitive Bidding |
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When does the employer think of limited competitive bidding as an appropriate method of procurement? |
* there is only a limited number of potential bidders, * the amount of the contract is not large enough to attract sufficient bidders through OCB, or * there are other exceptional reasons that may justify departure from open advertisement. |
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What are the major international financing institutions? |
* World bank * Asian Development Bank * African Development Bank * Asian Infrastructure Investment Bank |
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What are the major elements of a bid price? |
* Construction cost:Labour,materials,plant,subcontractors,on-cost * Mark-up:Company overheads, profit,risk. Value for money: * In order to obtain optimal benefits through effective,efficient,and economic use of resources, Price alone may not sufficiently represent value for money. * It may include related considerations such cost of life-cycle of project(planning stage, construction and operating stage) and socioeconomic and environmental development objectives of the borrower. |
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What are the advantages of international open competitive bidding? |
* Attract competitive bidders * Use of advanced technology and skills |
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What are the advantages of being financed by an international financing institution? |
Loan with:* Lower interest rate, even interest-free* Longer loan term,even 50years* Advanced technology,equipment, Project management* Better ideas of development* Wider cooperation |
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What are the Core Procurement Principles of ADB? |
*Economy * efficiency, * fairness, * transparency, * quality, * value for money |
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Can price alone sufficiently represent value for money? Why? |
Value for money:* In order to obtain optimal benefits through effective,efficient,and economic use of resources, Price alone may not sufficiently represent value for money. * It may include related considerations such cost of life-cycle of project(planning stage, construction and operating stage) and socioeconomic and environmental development objectives of the borrower. |
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What are the applicable conditions of direct contracting? |
* Emergency project * Military privacy project * Government project meant to ve kept as secret. |
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What are the advantages of direct contracting? |
* It saves time * |
