The Victorian Government Purchasing Board's procurement framework is supported by five policies. They are:
Governance structure embeds procurement across the organisation and ensures alignment with business planning. It encompasses greater focus on upfront strategic planning and transparency to provide consistency of market approach and better value-for-money procurement decisions.
Complexity and capability assessment
Procurement decisions based on an assessment of complexity and the capability of IBAC to conduct the procurement. Procurement can only proceed when IBAC determines it has the necessary capability to meet the complexity of the procurement activity.
Market analysis and review
Market analysis determines the capacity of the market to supply and the opportunities for market-based solutions. A review of requirements and processes in response to market analysis determines the most appropriate path to market.
IBAC must continuously be applying a structured, measured approach to informing, evaluating and negotiating with suppliers.
Contract management and contract disclosure
Contract management is escalated to a high-level consideration early in the planning process to arrive at an integrated end-to-end procurement framework.