1. Procurement performance has in many cases supplanted other outmoded procurement models and is an important driver of organizational success. Value management, when applied to projects, has been defined as a methodology that maximizes the functional value of a project by optimizing its development from concept to deployment.
2. How are the management of procurement performance and value management in an organization related? Justify your response with two examples, one from the public sector and one from a private organization or the service sector.
3. Identify the two types of performance appraisals, and discuss the specific advantages and disadvantages you perceive with each.