Contract Works Procurement Plan Template - ENGINEERING MANAGEMENT

This template (Short Procurement Plan) is for the procurement of Contract Works with a value of under $100k (direct source or closed t...

Contract Works Procurement Plan Template

Download Contract Works Procurement Plan Short Template

This template (Short Procurement Plan) is for the procurement of Contract Works with a value of under $100k (direct source or closed tender RFQ) or procured through a panel of suppliers. For procurements with a value of $100k or more, use the Full Procurement Plan.

What is the procurement of work?

Procurement involves the process of selecting vendors, establishing payment terms, strategic vetting, selection, the negotiation of contracts and actual purchasing of goods. Procurement is concerned with acquiring (procuring) all of the goods, services, and work that is vital to an organization.

What is the process of procurement and tendering?

Procurement is the process of buying goods, works or services. For instance, in terms of PPP, procurement comprises the process of buying the basic infrastructure and services. 

This may, for example, involve the acquisition of operation and management services for a basic service such as water supply. Procurement is often carried out by the process of tendering, rather than buying products directly from a seller. 
A company or organization (the promoter, client or employer) wishing to obtain goods or services will first specify its requirements. Subsequently, it will open the bidding in a process known as rendering. Interested companies can then submit their proposals to the client (often a local government) to meet these requirements. 
The government offering the tender will then evaluate the bids to decide which offer best suits its requirements. The company that has been successful in the tender process will perform the work by contract.
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