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CIPS CIPS Level 3 Advanced Certificate in Procurement and Supply Operations L3M3

Product Description

Exam Code:L3M3

Exam Name:Contract Administration

Q&A:90 Q&As

Updated: 04-27-2024

Number:

ExamGood L3M3 certification training exam material including the examination question and the answer, complete by our senior IT lecturers and the CIPS Level 3 Advanced Certificate in Procurement and Supply Operations product experts, included the current newest L3M3 examination questions.

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ExamGood L3M3 Exam Features

Contract Administration (L3M3)

Module purpose

On completion of this module, learners will be able to explain administrative processes behind contract development and how to measure contract performance. They will identify how to achieve competitive pricing and be able to describe how effective tendering is achieved.

Module aim(s)

In any organisation, a significant element of the procurement and supply function is based around the contracting process. This module is designed for those involved in the development and subsequent administration and performance monitoring of contracts. To ensure success, such individuals must demonstrate knowledge and comprehension of how to achieve competitive pricing and also how effective tendering is achieved.

Learning outcomes

1.0 Know the administrative content and key tasks associated with commercial contracts

1.1 Identify types of contracts and agreements

Spot purchases

Term contracts

Framework agreements (or blanket orders/panel agreements)

Call offs

1.2 Describe the purpose of the documents that compose a contract for the purchasing or supply of goods and/ or services

The specification

The key performance indicators (KPIs)

The contract terms

The pricing schedule

Other schedules (such as health and safety, use of subcontractors)

Non-disclosure/confidentiality agreements

1.3 Describe the stages involved in forming contracts for the purchasing or supply of goods and/or services

Requests for quotations/information/tender enquiries

Quotations/tenders received

Orders/acceptance of tenders

Delivery notes/acknowledgements

Invoicing and payment

The use of contract registers

1.4 Describe how to develop and present business cases to justify expenditure on supplies, services or projects

Costs

Benefits

Options

Alignment with organisational needs

Timescales

2.0 Understand how to achieve competitive pricing and the role of negotiation in procurement and supply

2.1 Explain the use and comparison of competition to obtain quotations on price

The use of competitive pricing with suppliers through monitoring prices and obtaining quotations

Comparing historical prices with newly quoted prices and evaluating the reasons for any significant discrepancies

Taking appropriate actions to secure competitive pricing

2.2 Recognise the role of commercial negotiations in the work of procurement and supply

Definitions of commercial negotiation

Collaborative win-win integrative approaches to negotiation

Distributive win-lose distributive approaches to negotiation

Negotiation in relation to the stages of the sourcing process

Sources of conflict that can arise in the work of procurement and supply

The influence of stakeholders in negotiation

2.3 Explain approaches to negotiate competitive prices

The link between costs, price, margins and mark-ups

Use available data on submitted prices

Retain or improve other aspects of value for money such as quality, availability and sustainability within the negotiation process

Analyse actual outcomes from the negotiation process with planned outcomes and evaluate the reasons behind any differences

3.0 Know how effective tendering is achieved

3.1 Identify the initial actions processes associated with the tendering process

Supply/market research

Early supplier engagement

Pre-contract dialogue

Develop and improve commercial and technical solutions

3.2 Describe initial tender process documentation and associated content

Invitations to tender

KPIs

Contract terms

Pricing schedule and other special to type schedules

Prequalification questionnaires

3.3 Identify the tender evaluation and acceptance process

Check tender details and take any necessary remedial actions

Assess tender proposals against initial requirements

Awareness of specification creep

3.4 Outline the regulations that can impact on the tendering process

International frameworks

Non-discrimination

Free movement of goods

Freedom to provide services

Freedom of establishment

Equality of treatment

Transparency

Mutual recognition

Code of ethics

Codes of conduct

4.0 Understand how to measure contract performance

4.1 Describe the use of data as a contract performance measure

Types of data

Data gathering and analysis methods

Actions to address under performance

Penalty clauses

4.2 Explain the use of Key Performance Indicators (KPI)

Quality performance

Cost management

Resources and delivery

The use of audits to verify performance and costs

The use of SMART targets for supplier performance and agree their application with suppliers and other stakeholders

Agree mitigating actions with suppliers and other stakeholders

4.3 Explain types of contractual risk and how to manage them

Use of risk registers

Internal organisational risk

Market economic risk

Performance based risk

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