ABSTRACT
Successful procurement seeks to buy the highest quality goods and services at the most competitive cost. Pitted against each other are the value of efficiency (cost) and effectiveness (the quality of goods procured). The most important guard against procurement failure is built-in financial controls. Oversight agencies should vigilantly guard against (1) graft in decentralized locations; (2) specifications written so narrowly that they inhibit competition; (3) bid and contract splitting; and (4) faulty contract management that permits unjustified change orders and unsatisfactory performance.
