Exam CGEIT topic 1 question 463 discussion

A procurement framework provides a standardized process for selecting vendors, which can help ensure consistency, fairness, and efficiency in the vendor selection process. It typically includes criteria for evaluating vendors, procedures for soliciting and reviewing bids, and guidelines for negotiating and managing contracts.

C. Procurement framework. A procurement framework establishes standardized processes and criteria for selecting vendors, ensuring consistency and efficiency in the vendor selection process. It outlines the procedures, guidelines, and evaluation criteria that should be followed when engaging with vendors for IT services or products. By having a clear procurement framework in place, organizations can streamline vendor selection, promote fairness and transparency, and minimize risks associated with vendor relationships.