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Please forward this error screen to sharedip-1666228125. The nature of public procurement is such that it involves discretionary decision-taking on behalf of government at all levels. Value for money is therefore not a choice of goods or services which is based on the lowest bid price but a choice based on the whole life costs of the project or service. The aim of the study is to find out ways of ensuring value for money in public procurement. The main data collection instrument employed in this study is the structured questionnaire. The study employed the purposive and stratified sampling technique.
The finding revealed that inadequate skilled personnel in the procurement sector and inadequate measures for monitoring and evaluation of the procurement policy to ensure VFM are major challenges in the public procurement. Correspondence to: Kwadwo Boateng Prempeh , Department of Accountancy, Sunyani Polytechnic, Ghana. Public procurement refers to the Government activity of purchasing goods, works and services needed to carry out its operation. Public procurement is the term commonly used in English language for this activity.
In Ghana, the terminology is the same. 2003 which was enacted to harmonize public procurement processes in the Public Service to ensure secure judicious, economic and efficient use of state resources. Therefore, public procurement is the process by which organizations acquire goods and services using public funds. It includes planning, inviting offers, awarding contracts and managing contracts. Professionalism and Value for Money. Professionalism is the discipline whereby educated, experienced and responsible procurement officers make informed decisions regarding purchase operations.