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| Free Project Procurement Management Plan Template |
A procurement management plan holds the purchase framework for your project. It serves as a guide for managing procurements such as goods, supplies, and/or services throughout the life of a project and is updated as procurement needs change.
Why Do You Need a Procurement Management Plan?
The importance of having a procurement management plan is that it defines what you need from the project that cannot be provided by the organization. This means that you have a greater understanding for planning the whole project. That includes managing the suppliers, who are key to keeping your project schedule.
What Does a Procurement Management Plan Do?
Obviously, the first and perhaps most important thing that a procurement management plan does is list all the procurements needed for the project and what requirements are expected to be associated with them. This is a key part of schedule development. It creates timelines for implementing a procurement for the project and therefore helps with estimating the larger project schedule.
A procurement plan helps monitor the whole procuring process. When the project is executed, the actual procurement can be compared against the procurement plan to track progress. If there are discrepancies, then the procurements can be adjusted to right those wrongs.
Evaluating the success of your procurement plan is made significantly easier with the help of capable project planning software. Things like communicating with team members, tracking results, making adjustments and producing reports can all be automated with the help of the right software.
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