Competency Module: Cost, Price, and Value Analysis

Description

When working with end users and stakeholders, the ability to synthesize and incorporate various financial data in support of the most competent decisions is a powerful tool for the public procurement professional. By evaluating cost and price data, procurement professionals can better justify expenditures based on the public need.

Objectives

In order to successfully earn a digital badge, learners must:

• Evaluate cost and price data to determine total cost of ownership to an entity.
• Compare the price of a commodity against the benefit to be derived by the entity to determine whether the expenditure is justifiable.

Intended Audience

Designed to promote applicable experiences for practitioners working in the public sector, NIGP’s Pathways competency courses empower learners with the ready-to-implement actions they need to succeed in public procurement. This introductory course is designed for:

• Public procurement and central warehouse professionals who serve as assistants, coordinators, buyers, or equivalent functions within their respective entities.
• Non-procurement managers and supervisors who are responsible for either the procurement function or staff who provide procurement functions under delegated authority.
• Professionals who are employed by governing entities and special authorities (such as K-12 and higher education, publicly-owned utilities, transportation providers, and other publicly-funded or created organizations) that either serve within or manage the procurement function.
• Suppliers or representatives of suppliers seeking to understand the public procurement function from a holistic level, including the policies, standards, and procedures by which public entities must function.