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NASCLAProcurement and Contracting Requirementsmedium

Procurement float for a long-lead item is best described as:

Correct Answer

C) The time cushion between planned delivery and the date the item is actually needed for installation

Procurement float is schedule cushion between expected delivery and the required installation or on-site date. Other choices are unrelated to procurement schedule risk.

Answer Options
A
Measure the time between supplier invoice date and final payment, leaving procurement float unverified
B
Measure the bond amount held until the item is delivered
C
The time cushion between planned delivery and the date the item is actually needed for installation
D
Measure the retainage percentage applied to stored materials

Why This Is the Correct Answer

Procurement float is schedule cushion between expected delivery and the required installation or on-site date. Other choices are unrelated to procurement schedule risk.

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