The act of secretly and illegally stealing funds which have been placed in the individual’s trust, or money belonging to a person’s employer:
You work as a buyer for a large international corporation. You are currently involved in managing a high-value tender, and one of the potential bidders offers to take you to a horse-racing event, with all expenses paid. The offer is for you alone; not for colleagues in your organisation. What do you do?
You work as a buyer for a large international corporation. You are currently involved in negotiating a high-value contract, and one of the supplier’s representatives offers to take you to a dog-racing event, with all expenses paid. The offer is open to the whole of your procurement team. What do you do?
A term used to describe preparatory activities undertaken after a contractor has been appointed, but before they have commenced work. Often used in projects, construction or management consultan-cy
Where performance of the contract may be impossible because of external unforeseen factors, this may be called:
Cause and effect diagrams, also known as Ishikawa diagrams, are sometimes also known, because of their shape, as:
‘The usefulness of lifetime costing is for decision-making about whether to acquire an asset with an expected:
TESTED 23 Feb 2025
