Project Procurement Management - ENGINEERING MANAGEMENT

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Project procurement management is the creation of relationships with outside vendors and suppliers for goods and services needed to com...

Project Procurement Management

Project-Procurement-Management

Project procurement management is the creation of relationships with outside vendors and suppliers for goods and services needed to complete a project. This process is comprised of five steps, including initiating and planning, selecting, contract writing, monitoring, and closing and completing.

The processes required to acquire goods and services, to attain project scope, from outside the performing organization
1-Plan Procurement ManagementDetermining what to purchase or acquire and determining when and how.
2-Conduct ProcurementsGetting the procurement documents created in the plan procurement process to the sellers, answering the seller’s question, having them prepare responses, and reviewing the responses to select seller.
3-Control ProcurementsManaging the relationship between the buyer and seller and assuring that the performance of both parties to the procurement meets contractual requirements.
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4-Close ProcurementsConsist of tying up all the loose ends, verifying that all work and deliverables are accepted, finalizing open claims, and paying withheld retainage for each of procurements on the project.
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