Essences of Regular Public Procurement Monitoring
Monitoring of public procurement is paramount because public contracts represent a considerable share of the states GDP as well as the budget of the public expenditure. With this in mind, it is essential to evaluate and monitor the overall performance of the public procurement systems. To grasp the whole idea of public procurement monitoring, one has to involve strict observation of the public procurement system, ensure that the observation is done coherently to assess how these systems work and advance over time and check if the targets set by the policymakers have been realized.
In other words, the monitoring has to use methods which can detect and come up with effective remedies of contraventions of public procurement regulations like checking of the compliance, auditing and inspections. In case you dig deeper into this concept, you will realize that it is deeper than just coming up with ways of detecting and combating the public procurement infringements; though these two are critical, the concept also includes strict assessment of full legal compliance. To sum it all, the focus of a good public monitoring approach has to collect, analyze and disseminate data in a manner to facilitate openness, competitiveness, efficiency, and transparency.
At the end of the monitoring process, the results are instrumental in drawing conclusions in regard to the strict adherence of public procurement principles and effective determination for the value-for-money. It is also these results that give basis for the preparation of regular reports on a functional procurement system and gives a vivid elaborations of recommendations and proposals for the future advancement of the public procurement system. With above highlights, it is paramount for any state to make sure that it conducts regular monitoring of public procurement systems for it to come up with the best ways to advance the public procurement system.
As a result, there will be increased transparency, integrity, and competitiveness. There will be also increased efficiency in public procurement on both sides of demand and supply. The public procurement market will also expand because medium and small-sized enterprises will get a better access than before. Innovations in the public procurement sector will be boosted, many enterprises will also participate in the international public procurement market and inter-administrative cooperation in public contracts field will be facilitated and promoted.
In nutshell, professional public procurement monitoring will greatly help in enforcing contractual obligations, making sure that the objective of the procurement give value for money, identifies both strengths and weaknesses in the entire procurement process, gives a perfect platform to compare and benchmarking with other contract authorities and contracts and finally, gives inputs for advancement to high levels.
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