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[Hardware] Reliable L4M2 Dumps Sheet | L4M2 Exam Pass Guide

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【Hardware】 Reliable L4M2 Dumps Sheet | L4M2 Exam Pass Guide

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The person who has been able to succeed is because that he believed he can do it. Real4test is able to help each IT person, because it has the capability. Real4test CIPS L4M2 exam training materials can help you to pass the exam. Any restrictions start from your own heart, if you want to pass the CIPS L4M2 examination, you will choose the Real4test.
CIPS L4M2 Exam covers a range of topics including procurement strategy development, market analysis, stakeholder management, risk management, and contract management. It is a comprehensive exam that requires candidates to have a deep understanding of the procurement process and the ability to apply this knowledge to real-world scenarios. Successful completion of L4M2 Exam demonstrates that a candidate has the necessary knowledge and skills to develop effective procurement strategies that align with the business needs of an organization.
Free PDF Quiz 2026 Perfect CIPS L4M2: Reliable Defining Business Needs Dumps SheetIn this highly competitive modern society, everyone needs to improve their knowledge level or ability through various methods so as to obtain a higher social status. Under this circumstance passing L4M2 exam becomes a necessary way to improve oneself. And you are lucky to find us for we are the most popular vendor in this career and have a strong strength on providing the best L4M2 Study Materials. And the price of our L4M2 practice engine is quite reasonable.
CIPS L4M2 Certification Exam is an essential qualification for professionals in the field of business analysis. It provides a comprehensive understanding of the principles and practices of defining business needs, which is essential for success in this field. Candidates who pass the exam will demonstrate their expertise and commitment to their profession, which can lead to new opportunities and career advancement.
CIPS Defining Business Needs Sample Questions (Q184-Q189):NEW QUESTION # 184
Which of the following statements is the best definition of 'value engineering?
  • A. Analysing perceived value after the product is available for sale
  • B. Building value into a new product from design stage onwards
  • C. Value achieved by an engineering department
  • D. Producing good value products right first time.
Answer: B
Explanation:
Value Engineering (VE) is concerned with new products. It is applied during product development. The focus is on reducing costs, improving function or both, by way of teamwork-based product evaluation and analysis.
This takes place before any capital is invested in tooling, plant or equipment.
This is very significant, because according to many reports, up to 80% of a product's costs (throughout the rest of its life-cycle), are locked in at the design development stage. This is under-standable when you consider the design of any product determines many factors, such as tooling, plant and equipment, labour and skills, training costs, materials, shipping, installation, maintenance, as well as decommissioning and recycle costs.
LO 3, AC 3.4

NEW QUESTION # 185
When analyzing direct and indirect costs of potential suppliers for negotiations and planning pur-chasing budget, the procurement manager collects reports from specialist organisations like Mintel, Gartner and Forrester. Which kind of information source is used by the procurement manager?
  • A. Company annual report
  • B. Technical data
  • C. RFI
  • D. Market data
Answer: D
Explanation:
Using Porter's value chain helps procurement professionals know what are direct and indirect costs of supplier. Information on direct and indirect costs will have been collected as part of the market analysis. Information sources that may help include the following:
- Company annual reports
- Market data
- Technical data
- Request for information
- Plan visits
- Discount lists
Market data is the information that is collected and analysed by specialist organisations like Mintel, Gartner, Forrester,...
Reference:
LO 2, AC 2.3

NEW QUESTION # 186
Which of the following are typical social considerations throughout the contract life cycle? Select the TWO that apply.
  • A. Support small local businesses
  • B. Health and safety
  • C. Managing waste
  • D. Minimizing use of non-renewable resources
  • E. Using recycled materials
Answer: A,B
Explanation:
The following are typical social criteria in procurement:
* Reducing unemployment
* Preventing the use of child labour
* Preventing discrimination on the grounds of race, religion, disability, sex or sexual orientation
* Encouraging good employment practice
* Reducing local unemployment
* Reducing social exclusion
* Promoting training opportunities for the young or disadvantaged
* Encouraging access to work for people with disabilities
Reference: CIPS study guide page 137
LO 3, AC 3.2

NEW QUESTION # 187
Which of the following might be consequences of over-specification? Select TWO that apply:
  • A. Lack of essential features
  • B. Limiting competition in supply market
  • C. Better contract management
  • D. Higher cost due to inessential features
  • E. Reducing motion waste
Answer: A,D
Explanation:
Over-specification can cause problems to buying organisation, include the following:
- Higher expense due to unnecessary features embedded into the product
- Stifle competition because higher requirements will lead to fewer suppliers in the market are able to supply
- Harder to evaluate the trade-offs between different features and attributes in the specification Reference:
LO 3, AC 3.3

NEW QUESTION # 188
A purchaser is looking for alternative supplies if there is a major disruption to their supply chain, including logistics, manufacturing and all support services. Which of the following method is that purchaser applying?
  • A. Tolerate the risk
  • B. Terminate the risk
  • C. Treat the risk
  • D. Transfer the risk
Answer: C
Explanation:
Risk control is the process by which an organization reduces the likelihood of a risk event occurring or mitigates the effects that risk should it occur. CIPS preferred way to determine your risk control strategy is to use the four T's Process:
Transferring Risk can be achieved through the use of various forms of insurance, or the payment to third parties who are prepared to take the risk on behalf of the organization Tolerating Risk is where no action is taken to mitigate or reduce a risk. This may be because the cost of instituting risk reduction or mitigation activity is not cost-effective or the risks of impact are at so low that they are deemed acceptable to the business. Even when these risks are tolerated they should be monitored because future changes may make it no longer tolerable.
Treating Risk is a method of controlling risk through actions that reduce the likelihood of the risk occurring or minimize its impact prior to its occurrence. Also, there are contingent measures that can be developed to reduce the impact of an event once it has occurred. Finding an alternative sup-plier is an example of treating the risk.
Terminating Risk is the simplest and most often ignored method of dealing with risk. It is the ap-proach that should be most favored where possible and simply involves risk elimination. This can be done by altering an inherently risky process or practice to remove the risk. The same can be used when reviewing practices and processes in all areas of the business.
If an item presents a risk and can be changed or removed without it materially affecting the busi-ness, then removing the risk should be the first option considered; rather than attempting the treat, tolerate or transfer it.
Reference:
LO 3, AC 3.3

NEW QUESTION # 189
......
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