Dictionary of Procurement Terms

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

Search the Dictionary of Terms

Search Results: 2021-2030 of 2469 results

  • Risk Analysis

    The stated findings of a factor, element, or cause involving uncertain harm or loss.

  • Risk Management

    The process of identification and analysis of risk; and the decision to either accept or mitigate the exposure to such risk when compared to the potential impact on the achievement of the entity’s objectives.

  • Risk Matrix


    See Also: Risk Register

  • Risk Register

    A risk register lists all identified risks that may affect the project. It should be as comprehensive as possible to include all identifiable items that have probability of occurrences and generally includes estimated probability of the risk event to occur, severity or possible impact of the risk, probable timing and anticipated frequency.

  • Robinson Patman Price Discrimination Act (U.S. Law)

    Amended the Clayton Antitrust Act in 1936. It is intended to eliminate discriminatory and predatory pricing practices. Private individuals as well as government prosecutors may initiate lawsuits under this Act.

    See Also: Sherman Antitrust Act (U.S. Law), Clayton Act (The Clayton Anti-Trust Act) (U.S. Law), Federal Trade Commission Act (U.S. Law)

  • ROI


    See Also: Return On Investment (ROI)

  • Roll On/Roll Off (RO/RO)

    A method of ocean cargo service using vessels with ramps that allow wheeled vehicles to be loaded and discharged without the use of cranes. (ISM, 2000)

  • Root Cause Analysis (RCA)

    A technique that enables the manager to determine what happened, why, and methods of preventing the occurrence in the future by examining all factors that could contribute to a problem, including, but not limited to factors such as environmental, human, and procedural matters.

  • Routing

    A determination of how a shipment will move from the point of origin to the destination, including the selection of carriers and geographic routes.

  • Royalty (Royalties)

    Compensation for the use of property.

Advertisement

Advertisement