PROJECT PROCUREMENT MANAGEMENT (Based on PMBOK 5 th Edition )

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. 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.

Project Procurement Management also includes controlling any contract issued by an outside organization (the buyer) that is acquiring deliverables from the project from the performing organization (the seller), and administering      contractual obligations placed on the project team by the contract.       

Project Procurement Management processes which include the following:       

12.1    Plan Procurement Management — The process of documenting project procurement decisions, specifying the approach, and identifying potential sellers.

12.2    Conduct Procurements — The process of obtaining seller responses, selecting a seller, and awarding a contract.

12.3    Control Procurements — The process of managing procurement relationships, monitoring contract performance, and making changes and corrections as appropriate.

12.4    Close Procurements — The process of completing each project procurement.

These processes interact with each other and with processes in other Knowledge Areas.

The Project Procurement Management processes involve agreements, including contracts, which are legal documents between a buyer and a seller. A contract represents a mutually binding agreement that obligates the seller to provide something of value (e.g., specified products, services, or results) and obligates the buyer to provide monetary or other valuable compensation. An agreement can be simple or complex, and may reflect the simplicity or complexity of the deliverables or required effort. A procurement contract includes terms and conditions, and may incorporate other items that the buyer specifies as to what the seller is to perform or provide. It is the project management team’s responsibility to make certain that all procurements meet the specific needs of the project while adhering to organizational procurement policies. Depending upon the application area, a contract can also be called an agreement, an understanding, a subcontract, or a purchase order. Most organizations document policies and procedures specifically defining the procurement rules and specifying who has authority to sign and administer such agreements on behalf of the organization.   

Although all project documents may be subject to some form of review and approval, the legally binding nature of a contract or agreement usually means it will be subjected to a more extensive approval process. In all cases, the primary focus of the review and approval process is to ensure that the contract language describes the products, services, or results that will satisfy the identified project need. The project management team may seek support in early phases from specialists in contracting, purchasing, law, and technical disciplines. Such involvement can be mandated by an organization’s policies.The various activities involved in the Project Procurement Management processes form the life cycle of an agreement. By actively managing the agreement life cycle and carefully wording the terms and conditions of a procurement, some identifiable project risks may be shared or transferred to a seller. Entering into an agreement for products or services is one method of allocating the responsibility for managing or sharing potential risks.

A complex project may involve managing multiple contracts or subcontracts simultaneously or in sequence. In such cases, each contract life cycle may end during any phase of the project life cycle. Project Procurement Management is discussed within the perspective of the buyer-seller relationship. The buyer-seller relationship may exist at many levels on any one project, and between organizations internal to and external to the acquiring organization.

Depending on the application area, the seller may be identified as a contractor, subcontractor, vendor, service provider, or supplier. Depending on the buyer’s position in the project acquisition cycle, the buyer may be called a client, customer, prime contractor, contractor, acquiring organization, service requestor, or purchaser. The seller can be viewed during the contract life cycle first as a bidder, then as the selected source, and then as the contracted supplier or vendor.
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