Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 21-30 of 30 results for “H”

  • HUB


    See Also: Historically Underutilized Business (HUB)

  • Human Capital

    The knowledge and skills possessed by the workforce. The health, strength, education, training, and skills that people bring to their jobs. (Schiller, 2000)

  • Human Resources

    1. The quantity and quality of human effort directed toward producing goods and services. Also called labor. 2. The physical and mental abilities that people use to produce goods and services. (Business, 2002)

  • Hurdle Rate

    Also referred to as “minimum cost differential,” it is a predetermined amount of cost savings that must be achieved before a change in service delivery (e.g., moving from government service delivery to outsourcing) is considered warranted.

  • Hybrid Contracts

    Contracts containing both services and product and are usually governed by the “predominant purpose” doctrine to determine whether the contract is one for goods or services.

  • Hygiene Factors

    Aspects of Herzberg’s theory of motivation that focus on the work setting and not the content of the work; these aspects include adequate wages, comfortable and safe working conditions, fair company policies and job security. (Business, 2002)

    See Also: Herzberg, Frederick

  • Hyperinflation

    Inflation rate in excess of 200 percent and lasting for at least one year. (Schiller, 2000)

  • Hypertext Markup Language (HTML)

    A standardized system for tagging text files to achieve font, color, graphic, and hyperlink effects on World Wide Web pages." (Oxford Dictionaries, 2015)

  • Hypothecate

    A finance, banking, and accounting reference to the use of property as collateral for a loan.

  • Hypothesis Testing

    A statistical process of testing sample data from a statistical study to determine whether it is consistent with what is known about the sample population. (Business, 2002)
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