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CIPS M4L8 (Procurement and Supply) LO3 QUESTIONS AND ANSWERS RATED A.
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CIPS M4L8 (Procurement and Supply) LO3 QUESTIONS AND ANSWERS RATED A.
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CIPS M4L8 (Procurement and Supply) LO3QUESTIONS AND ANSWERS RATED A.
What are the disadvantages of buying assets?
Correct Answer -- depreciation has to be calculated
- more difficult to upgrade
- maintenance costs are incurred
What are the advantages of leasing assets?
Correct Answer -- no initial capital outlay
- total amount payable is known
- budgeting is easier
- fewer tax and depreciation calculations
what are the disadvantages of leasing assets?
Correct Answer -- commitment to payment over an agreed period of time
- overall price may be higher than if bought outright
- ownership never transfers
- could be limits on usage
what departments are involved in whole life asset management?
Correct Answer -- marketing
- finance
- research and design
- operations
- sales
- human resources
, - procurement
- maintenance
what are the objectives related to the creation and presentation of a
business case?
Correct Answer -- demonstrating strategic thinking
- improving the efficiency and quality of decision-making
- enabling senior management to evaluate proposals
- enabling management to compare alternatives and options
- checking whether justification for the business case is valid
what is cross-functionality?
Correct Answer -people from different areas with a business working
together on a project to achieve the same goals and objectives
what is a portal?
Correct Answer -an online platform where data is stored and can be
accessed by all with authority to do so
what is a shared directory?
Correct Answer -an area on a computer system or network that can be
accessed by multiple users
what are the team roles according to Belbin?
Correct Answer -- monitor evaluator
- plant
- specialist
- implementer
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