Scope and Influence of Procurement and Supply
Defining Business Needs
Commercial Contracting
Ethical and Responsible Sourcing
Commercial Negotiation
Supplier Relationships
Whole Life Asset Management
Procurement and Supply in Practice
Procurement and Supply Environments
Ethical Procurement and Supply
In probability theory, the chances of a coin landing on heads would be expressed in what way?
50%
one half
0.5
50-50
Explanation
0.5 - in probability theory, the likelihood of an event is represented as a number between 0 and 1. Therefore this would be written as 0.5. See p. 125
Which of the following is not a benefit of having a contingency plan?
competitive advantage
increased staff morale
greater resilience to force majeure events
increased profits
Contingency plans won't increase your profit, but they will do the other three things. This is from p.109-110 of the study guide
Who takes ownership for a Business Continuity Plan?
the top level of an organisation
the department head
the risk champion of the company
the individuals who identify the risks
A Business Continuity Plan is held at the top level. See p. 155