5-3 Final Project Milestone Three: Summary Of Procurement Principles

In Module Five, you will submit a summary of procurement principles, summarizing the key principles of value for money, ethics, competition, transparency, and accountability and discussing how a professional procurement process satisfies those principles. You will then apply this knowledge to evaluate the contracting decisions made in your selected case study, following the critical elements in Section V of the final project (repeated below).

Specifically, the following critical elements must be addressed in your analysis:

V. Procurement in Practice

a. Summarize the key principles of value for money, ethics, competition, transparency, and accountability.

b. Discuss the importance of the key principles in effective procurement.

c. Evaluate the contracting decisions described in the case study for the extent to which they satisfy key procurement principles of value for money, ethics, competition, transparency, and accountability (i.e., the field situations, situational decision making, etc.).

Guidelines for Submission: The procurement regulations and source selection document should be two to four pages in length, and must be written in APA format. Use double spacing, 12-point Times New Roman font, and one-inch margins.