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: 211-220 of 248 results for “P”

  • Public Policy

    1. The governing policy within a community as embodied in its legislative and judicial enactments which serve as a basis for determining what acts are to be regarded as contrary to the public good; 2. The principle of law by virtue of which acts contrary to the public good are held invalid. (Merriam-Webster Dictionary)

  • Public Procurement

    The designated legal authority to advise, plan, obtain, deliver, and evaluate a government’s expenditures on goods and services that are used to fulfill stated objectives, obligations, and activities in pursuit of desired policy outcomes.

  • Public Procurement Process Model

    An integrated public procurement planning model that consists of four stages: Planning, formalization, implementation, and evaluation.

  • Public Procurement Unit (PPU)

    Local public procurement unit; external procurement activity (any buying organization not located in the state, which, if located in this state, would qualify as a public procurement unit); state public procurement unit; Federal Government; and any not-for-profit entity comprised of more than one of the above. (ABA Model Procurement Code, 2000)

  • Public Property

    All property, other than money, belonging to the public entity.

  • Public Purchasing

    The processes utilized by public entities for the procurement of construction, supplies, materials, and services at the most favorable overall total cost through the utilization of accepted practices that encourage competition, including best value and quality considerations, thus ensuring that the public good is best served.

  • Public Sector

    That section of the economy that is financed and controlled by a central government, local authorities, and publicly funded corporations. (Business, 2002)

  • Public-Private Competition

    In-house governmental departments and private companies who compete to provide government services; occurs when a government agency targets a service for possible outsourcing and allows the in-house operation currently providing the service to compete against the private sector and submit a proposal to provide the government service. May be referred to as Managed Competition.

  • Public-Private Partnership (P3)

    A public-private partnership (P3) is a broad term used to describe public facility and infrastructure contracts that minimally includes components of design and build (e.g., construction, renovation, rehabilitation) into one single contract. Components of financing, operations, maintenance, or management may be included within this single contract. A P3 contract allocates risks to the party (the government or the contractor) best able to manage the risks and may assign a higher level of responsibility for means and methods to the partner.

    See Also: Concession Model

  • Pull Strategy

    The use of promotion to create consumer demand for a product so that consumers exert pressure on marketing channel members to make the product available. (Ferrell & Hirt, 2002)

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