Market approaches. Whether a procurement uses an open competitive process or limited competitive process, in contrast to a nonmarket direct selection without competition. Market approach also considers whether a procurement identifies national or international suppliers for contracts.

Procurement approaches. The methods, features, and arrangements used for buying goods, works, nonconsulting services, and consulting services for investment project financing operations. The World Bank’s menu of methods includes request for bids, request for quotation, request for proposals, and consultant qualification-based selection, among others. Features or approaches to add to methods include preselection, initial selection, negotiation, multiple stage bidding, e-auctions, rated criteria, and so on. Arrangements include (but are not limited to) community-driven development, public-private partnerships, and United Nations contracting.

Procurement cycle. Starts with strategizing and identifying a need for procurement and continues through planning and market research, developing specification requirements, budget considerations, advertisement, shortlisting, evaluation, contract award, contract signing, and contract management.

Procurement documents. A term used in World Bank procurement regulations to cover procurement documents issued by the borrower (client) in a project.

Procurement process. The stages involved in carrying out a procurement activity from initiation to contract signing.

Procurement processing issues. Problems that arise when processing a procurement activity and that result in delays, unsound products, or a lower-quality process.

Procurement review. Formal examination that includes audits, verifications, or other assessments of the procurement processes. World Bank procurement staff conduct a prior review of select procurement activities before they are implemented. World Bank staff conduct a post review of a sample of procurement processes after the client completes the activities. The findings are summarized in a post review report.

Quality. The noncost factors that increase a procurement’s value and the balancing of those factors with costs throughout the project cycle to fit a project’s need.