Contract Package as an Antecedent of Value for Money: The Mediating Role of Competitive Procurement.
Keywords:
Contract Package, Competitive Procurement, Value for Money, Pre-university Educational InstitutionsAbstract
Given the limited resources available to the government institutions, value for money in procurement is crucial to ensuring the optimal use of finite budgetary resources. This study delves into contract package as an antecedent of value for money; competitive procurement as a mediating role. Fifty-three (53) pre-university educational institutions in the Eastern region of Ghana were selected for the study. Two research objectives were examined whilst two research hypotheses were tested. This study is a quantitative one, which employed purposive and simple random sampling techniques. Using the Confirmatory Factor Analysis (CFA) and Structural Equation Model (SEM) for data analysis, the study found no relationship between contract package and value for money. Again, the study revealed that competitive procurement failed to exert significant effect or influence on contract package and value for money linkages. The study recommended that appropriate procurement process at the public sector is highly required to generate wealth, enhance transparency and accountability, encourage consistent procurement procedures and lessen corruption. Through this, value for money can be achieved.
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