Answer :
In procurement management, the approval of tender documents typically occurs in the 'Preparation' phase of the process. Let's break down the procurement management process to understand this better:
Preparation: During this stage, the organization prepares the tender documents that detail the specifications, requirements, terms, and conditions of the goods or services to be procured. This includes creating detailed descriptions of what is needed, expectations for delivery, and performance standards. The tender documents are often subject to review and approval by relevant stakeholders within the organization to ensure all requirements are clearly outlined and aligned with organizational goals. This is where the approval of tender documents typically takes place.
Tendering: Once the tender documents are approved, they are issued to potential suppliers or contractors. This is the stage where the organization invites suppliers to submit bids or proposals based on the issued documents.
Evaluation: In this stage, the received bids or proposals are evaluated against the criteria set out in the tender documents. The goal is to assess which supplier offers the best value in terms of price, quality, and capability.
Approving: This is usually considered as part of the evaluation and contracting phase. It involves finalizing contract terms and obtaining necessary internal approvals before awarding the contract to the chosen supplier or contractor.
For this question, the correct option is (d) Preparation, as the approval of the tender document takes place during this initial phase to ensure everything is in order before proceeding to tendering.
