Influence of Electronic Procurement Strategy on Value For Money In Construction Project

Abstract

Since public procurement involves such large amounts of money in various procurement operations, it is imperative to ensure value for money (VfM), electronic procurement is a modern tool through which value for money can be attained, this study determine the influence ofelectronic procurement strategy on Value for Money in construction project. Study used a cross section design to collect data from 160 employees from different department who were sampled based on their strata and by using questionnaire. The study found that reliability and speedy of electronic procurement increases the efficiency of construction projects. The study concludes that electronic procurement, is the key tools through in which, if utilized well the construction project in public organization will be efficiency, economy and effectively through trade discount and communication. Also, electronic procurement increase transparency and to a large extent brought about simplicity of the work done despite of the challenge of network problem.

Keywords

• e-procurement
• value for money
• procurement strategy