INTRODUCTION TO PUBLIC PROCUREMENT MANAGEMENT IN GHANA

Public Procurement policies affect all public institutions and the private sector players to ensure value for money, achievement of Government objectives, transparency,accountability and judicious use of funds in procuring goods,works and services.In most developing countries, promulgation of public procurement laws is one of the strategies to curb corruption emanating from project finance. Procurement management involves a systematic but continuous process that ensures the acquisition of quality materials and or services to undertake efficient production to remain competitive. Public procurement in Ghana focuses on accountability, transparency and ethics and above all value for money in the operation, management and reporting of procurement and asset disposal. All Public Servants are to consistently apply these policies and procedures, together with professional judgment and good management.Effective public procurement of goods should involve some kind of risk management, although it may not necessarily mean that a formal risk management structure is set up. Technological, financial, political and organisational change are examples of procurement risks.

John G.Gatsi lectures Finance at the School of Business,University of Cape Coast.He holds MSc , MBA, MSc. He is a chartered economist, member of the Institute of Directors-Ghana and Doctor of finance Student,SMC University,Switzerland. INNOCENT SENYO ACQUAH is a Senior Research Assistant at the School of Business , University of Cape Coast