Dictionary of Procurement Terms

Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 1661-1670 of 2051 results
  • RFQ

  • RFQu

  • Riding a Contract

  • Rightsizing

    To re-structure an organization with the aim of reducing costs and improving efficiency and effectiveness.
  • Risk

    The chance of injury, damage, or loss; the probability of some occurrence (e.g., a failure) and the consequences and impact of that occurrence.
  • Risk Analysis

    The stated findings of a factor, element, or cause involving uncertain harm or loss.
  • Risk Management

    The process of identification and analysis of risk; the decision to either accept or mitigate the exposure to such risk when compared to the potential impact on the achievement of the entity’s objectives.
  • Risk Matrix

  • Risk Register

    A register that lists all identified risks that may affect a project. It should be as comprehensive as possible and include all identifiable items that have a probability of occurrence. A risk register generally includes an estimated probability of the risk event occurring, the severity or possible impact of the risk, and probable timing and anticipated frequency.
  • Robinson Patman Price Discrimination Act (U.S. Law)

    A law that amended the Clayton Antitrust Act in 1936. It is intended to eliminate discriminatory and predatory pricing practices. Private individuals as well as government prosecutors may initiate lawsuits under this act. See also: Sherman Antitrust Act, Clayton Act (Clayton Anti-Trust Act), Federal Trade Commission Act.
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