{"id":479,"date":"2013-09-06T21:34:22","date_gmt":"2013-09-06T21:34:22","guid":{"rendered":"https:\/\/www.whizlabs.com\/pmblog\/?page_id=479"},"modified":"2013-09-06T21:34:22","modified_gmt":"2013-09-06T21:34:22","slug":"procurement-management-part-1","status":"publish","type":"post","link":"https:\/\/www.whizlabs.com\/blog\/procurement-management-part-1\/","title":{"rendered":"Procurement Management \u2013 Part 1"},"content":{"rendered":"

Project Procurement Management<\/span><\/h1>\n

Project Procurement Management includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team. The organization can be either the buyer or seller of the products, services, or results of a project.<\/p>\n

Project Procurement Management includes the contract management and change control processes required to develop and administer contracts or purchase orders issued by authorized project team members.The Project Procurement Management processes involve contracts that are legal documents between a buyer and a seller.<\/p>\n

A contract represents a mutually binding agreement that obligates the seller to providethe specified products, services, or results, and obligates the buyer to provide monetary or other valuable consideration.The various activities involved in the Project Procurement Management processes form the life cycle of a contract.<\/p>\n

A complex project can involve managing multiple contracts or subcontracts simultaneously or in sequence. In such cases, each contract life cycle can end during any phase of the project life cycle.Depending on the application area, the seller can be called a contractor, subcontractor, vendor, service provider, or supplier.Depending on the application area, the seller can be called a contractor, subcontractor, vendor, service provider, or supplier.<\/p>\n\n\n\n\n\n
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Knowledge<\/p>\n

Area<\/p>\n<\/td>\n

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Process Group<\/p>\n<\/td>\n<\/tr>\n

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Initiating<\/p>\n<\/td>\n

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Planning<\/p>\n<\/td>\n

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Executing<\/p>\n<\/td>\n

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Monitoring & Controlling<\/p>\n<\/td>\n

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Closing<\/p>\n<\/td>\n<\/tr>\n

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Project Procurement Management<\/p>\n

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<\/td>\n\n

Plan procurement Management<\/p>\n<\/td>\n

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Conduct Procurements<\/p>\n<\/td>\n

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Control Procurements<\/p>\n<\/td>\n

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Close Procurements<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Plan Procurement Management<\/b><\/span><\/p>\n

Plan Procurements is the process of documenting project purchasing decisions, specifying the approach, and identifying potential sellers.This process involves determining whether to acquire outside support and, if so what to acquire, how to acquire it, how much is needed, and when to acquire it.<\/p>\n

The Plan Procurements process also includes consideration of potential sellers, particularly if the buyer wishes to exercise some degree of influence or control over acquisition decisions. Consideration should also be given to who is responsible for obtaining or holding any relevant permits and professional licenses that may be required by legislation, regulation, or organizational policy in executing the project.<\/p>\n

The Plan Procurements process includes consideration of the risks involved with each make-or-buy decision. It also includes reviewing the type of contract planned to be used with respect to mitigating risks, sometimes transferring risks to the seller.<\/p>\n

[restrict]<\/p>\n\n\n\n\n
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Inputs<\/b><\/p>\n<\/td>\n

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Tools & Techniques<\/b><\/p>\n<\/td>\n

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Outputs<\/b><\/p>\n<\/td>\n<\/tr>\n

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  • Project Management Plan<\/li>\n
  • Requirements Documentation<\/li>\n
  • Risk Register<\/li>\n
  • Activity resource requirement<\/li>\n
  • Project Schedule<\/li>\n
  • Activity Cost estimates<\/li>\n
  • Stakeholder register<\/li>\n
  • Enterprise environmental factors<\/li>\n
  • Organizational Process Assets<\/li>\n<\/ul>\n<\/td>\n
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  • Make or Buy Analysis<\/li>\n
  • Expert Judgment<\/li>\n
  • Market Research<\/li>\n
  • Meetings<\/li>\n<\/ul>\n<\/td>\n
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