Project Procurement Management

Project Procurement Management

Meaning of Procurement:

• Procurement means acquiring goods and/or services from an outside source 
• Other terms include purchasing and outsourcing

Project Procurement Management Processes:

• Procurement planning: determining what to procure and when 
• Solicitation planning: documenting product requirements and identifying potential sources 
• Solicitation: obtaining quotations, bids, offers, or proposals as appropriate 
• Source selection: choosing from among potential vendors 
• Contract administration: managing the relationship with the vendor 
• Contract close-out: completion and settlement of the contract

Procurement Planning:

Procurement planning involves identifying which project needs can be best met by using products or services outside the organization. It includes deciding:

• whether to procure 
• how to procure what to procure 
• how much to procure 
• when to procure

Download also:

• Procurement Schedule Template
• Procurement Planning Excel Template
• Procurement Management Plan Template
• Procurement Plan and Schedule Template
• Contract Works Procurement Plan Template
• Procurement Performance Indicators Dashboard

Download