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CIPS L4M2 (Defining Business Needs) Certification Exam is a comprehensive certification program that is designed to equip professionals with the knowledge, skills, and competencies required to effectively define business needs in different organizational settings. The certification exam focuses on providing participants with a deep understanding of the tools, techniques, and methodologies that are used in business analysis to identify, analyze, and define business needs.

The CIPS L4M2 (Defining Business Needs) Certification Exam covers a wide range of topics related to business analysis, including the identification of business needs, the development of business cases, the analysis of business requirements, and the creation of solutions that meet these requirements. This certification exam is designed to ensure that individuals who pass it have the skills and knowledge necessary to succeed in a career in business analysis or project management.

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The course comprises of five modules, each covering a specific aspect of the procurement and supply chain management process. The modules are designed to build upon each other, providing learners with a comprehensive understanding of the procurement and supply chain management process. Upon completion of the course, individuals will have the skills required to effectively manage the procurement process from start to finish, ensuring maximum value for their organization.

CIPS Defining Business Needs Sample Questions (Q144-Q149):

NEW QUESTION # 144
Which of the following is the process for improving the value of a new product or service?

  • A. Value analysis
  • B. Planning and design
  • C. Porter’s Five Forces
  • D. Value engineering

Answer: D

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.
Reference:
LO 3, AC 3.4

NEW QUESTION # 145
A procurement organisation is keen to encourage innovation available within the supply market in the execution of an upcoming significant contract opportunity. A team member suggests that the specification should define the performance indicators so that supplier’s solution can be checked against them. Which of the following will enable the organisation to achieve this goal?

  • A. Applying a precise performance framework
  • B. Establishing transparent selection criteria
  • C. Using an outcome focused specification
  • D. Using an output focused specification

Answer: D

Explanation:
The buying organisation is keen to encourage innovation so they should use the outcome or output based specification. In an outcome-based specification, umbrella statements like ‘good quality’, ‘ambient temperature’, ‘convenient way’ are often used. This may confuse the suppliers, and it’s hard to check the solution that supplier offers. On the other hand, ouput-based specifications often include measurable requirements. For example, a specification for air conditioning system states that the system should maintain the room temperature at 19-24 degrees Celsius. Therefore, output specification is more appropriate in this case.
Reference:
LO 3, AC 3.1

NEW QUESTION # 146
Warwickshire Ambulance Service (WAS) is an NHS Trust. It operates throughout Warwickshire and the neighbouring areas. It has three core areas of activity, namely the provision of Emergency Ambulance Services, routine Patient Transport Services, and Logistic Medical Services. The agency is working towards higher service level through benchmarking. Which of the following is the benefit of benchmarking to WAS?

  • A. It helps WAS identify better ways to deliver service through a cookbook process
  • B. Benchmarking is a panacea for all WAS’s problems
  • C. It will help WAS create performance standards derived from an analysis of the best in business
  • D. It will help WAS analyse the competitors in the industry

Answer: C

Explanation:
Benchmarking is ‘the pursuit by organisations of enhanced performance by learning from the suc-cessful practices of others. Benchmarking is a continuous activity; key internal processes are adjusted, performance is monitored, new comparisons are made with the current best performers and further changes are explored. Where information about these key processes is obtained through a co-operative partnership with specific organisations (rather than via a third party such as an independently-maintained database), there is an expectation of mutual benefit over a period of time.


Reference:
– The Department of Navy Benchmarking Handbook: A system view
– CIPS study guide page 49-51
LO 1, AC 1.3

NEW QUESTION # 147
Buyers are more powerful than the supplier when they are purchasing from monopoly market. Is this statement true?

  • A. True, suppliers in monopoly market produce homogenous products
  • B. False, the buyer will be unable to track and manage supplier’s performance
  • C. True, in monopoly market, buyer’s switching costs from the incumbent supplier to an-other are relatively low
  • D. False, buyer will lack negotiating power on cost if the supplier has a monopoly in the market

Answer: D

Explanation:
A monopoly is a market with a single seller (called the monopolist) but with many buyers. In this market, the bargaining power of supplier is higher than of buyer since the supplier is the only seller.
Reference:
– CIPS study guide page 88-92
– Bargaining Power of Suppliers – Factors that Give Suppliers Power (corporatefinanceinsti-tute.com)
– Monopoly – Understanding How Monopolies Impact Markets (corporatefinanceinstitute.com) LO 2, AC 2.2

NEW QUESTION # 148
British Steel needs to source a set of instruments that will improve quality of steel. Without these instruments British Steel will loss control of the temperature. The bucket may freeze up, or if it is too hot it leaks out of the casting process, damaging the machine. There is limited supply on the market and quality varies greatly. Which of the following will be the most appropriate managing approach to procure these items?

  • A. Leverage market competition to drive down cost
  • B. Form partnership with supplier
  • C. Bundle these instruments into larger contract
  • D. Seek continuity of supply

Answer: B

Explanation:
The instrument plays a crucial role in steel manufacturing because it presents in the majority of products, in which case lacking this instrument would have significant impact on the organisation’s output (production lines stop or damaging other machine). Otherwise, the risk of supply is high because there is limitation in supply. Therefore, it is considered as a strategic item in term of Kraljic’s portfolio matrix. Procurement manager should form partnership with suppliers to maximise the value.
The following graph illustrates Kraljic’s portfolio matrix:

Reference:
LO 2, AC 2.1

NEW QUESTION # 149
……

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