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Importance of Federal Acquisition Management

Government procurement management is the process of ensuring all the rules and regulations are followed during the procurement and acquisition processes. The major benefit of the government procurement management is ascertaining that no low standards goods and services are provided and no incompetent employee is hired in all the departments of the government. The major areas where the federal acquisition management is supposed to focus on are; travel, technology, motor vehicle, transportation and hiring of employees. The following are the major steps in the federal acquisition management; acquisition planning, the formation of the contract and governing of the contract. The federal acquisition regulatory carries out all the acquisition procedures. The following are reasons why there are government procurement management in many countries.

The federal procurement management will ensure no incompetent company or person gets a government tender or contract. The government acquisition regulation will come up with the standards that a company or person must attain in order to be given a government tender. In order to determine whether a company or individual is competent, the federal procurement management also asks for the registration information, details of the previous contracts and the price the company or the individual expects for the provision of the goods and services. An individual must also give his/her age in order to win a tender.

The federal procurement management is important in controlling corruption. There has been a rise in the cases of tenders and contracts being given to the relatives and friends of the procurement officers. Many of the cases in the corruption courts are awarding of tenders and contracts to friends and relatives. The government procurement management will eliminate corruption and favor.

A federal acquisition regulatory ensures the government acquires high standard services, machines, equipment, and systems. Before the government receives goods and services, the government acquisition management must ensure they meet the minimum standards. Previously, many government departments used to acquire substandard machines and equipment as well as pocket huge amounts of money meant for the acquisition process. Another duty of the government procurement management is to investigate whether there is a relation between the procurement officers and the companies which win contracts.

In order to use the right amount of money in the acquisition of goods and services, a government procurement management is important. The government procurement management will research on the right amount of money needed in the acquiring of the products and services. The budget will enable procurement department to set aside the right amount of money. The procurement management is, therefore, able to choose the companies which have not exaggerated their prices.

Issuing of penalties is another importance of the federal procurement management. In case a company engages in unlawful practices such as bribery and kickbacks, the acquisition management will ensure the company will never get a government contract.

This is the importance of government acquisition management.

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