The management of public expenditure is widely recognized as a crucial element in the global governance agenda and a key area of focus for the development community. However, public procurement-the purchase of goods, works and services by governments-is often examined with a focus on process and procedure, and seldom discussed in terms of outcomes and effectiveness. For the first time in several decades, the international finance institutions (IFIs), in response to the rapidly evolving landscape of development aid in general and the procurement profession in particular, are undergoing a major overhaul of their procurement policies. The dialogue around the potential reforms provides a juncture for 'rethinking' the traditional approach to and understanding of public procurement. The purpose of this paper is to advocate a holistic view of the procurement process, to ensure the engagement of the broadest range of stakeholders, to raise key issues with implications for public sector governance, and to lay out a framework for addressing contentious and seemingly irreconcilable differences among the various actors.
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