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Public Management
The process of planning,
organizing, staffing, and executing the use of
people, time, and fiscal resources for the
purpose of providing goods, services, and
protection valued by the citizens of the state
or jurisdiction in response to the laws and
regulations of the governing body.
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Public Notice
An announcement made by an
entity concerning a solicitation or other
information of general public interest. A public
notice is typically posted on an entity website
or communicated via other general news
media, such as newspapers or trade journals.
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Public Policy
A course or principle of action,
based on law and enacted by a government,
entity, business, or individual.
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Public Procurement
The designated legal
authority to advise, plan, obtain, deliver, and
evaluate a government’s expenditures on
goods and services that are used to fulfill
stated objectives, obligations, and activities in
pursuit of desired policy outcomes.
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Public Procurement Process Model
An integrated
public procurement planning model that
consists of four stages: planning,
formalization, implementation, and
evaluation.
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Public Property
All property, other than money,
belonging to a public entity.
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Public Sector
The part of the economy that is
government-controlled (e.g., public entities,
enterprises, and programs).
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Public-Private Competition
In-house
governmental departments and private
companies that compete to provide
government services; occurs when a
government agency targets a service for
possible outsourcing and allows the in-house
operation currently providing the service to
compete against the private sector and
submit a proposal to provide the service. May
be referred to as Managed Competition.
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Public-Private Partnership (P3)
A broad term
used to describe public facility and
infrastructure contracts that minimally include
components of design and build (e.g.,
construction, renovation, rehabilitation) into
one single contract. Components of financing,
operations, maintenance, or management
may be included within this single contract. A
P3 contract allocates risks to the party (the
government or the contractor) best able to
manage the risks and may assign a higher
level of responsibility for means and methods
to the partner. See also: Concession Model.
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Punitive Damages
Non-compensatory damages
that are awarded in a civil case to punish the
defendant for willful or gross misconduct.
