Project Procurement Management
Procurement Management is a groups of processes required to to purchase or acquire the products, services, or results needed from outside the project team to perform the work.
There are following processes which are part of Project Procurement Management.
Plan Purchases and Acquisitions
The Plan Purchases and Acquisitions process identifies which project needs can best be met by purchasing or acquiring products, services, or results outside the project organization, and which project needs can be accomplished by the project team during project execution. This process involves consideration of whether, how, what, how much, and when to acquire.
Plan Purchases and Acquisitions process is a part of "Project Planning Phase".
The Plan Contracting process prepares the documents needed to support the Request Seller Responses process and Select Sellers process.
Plan Contracting process is a part of "Project Planning Phase".
Request Seller Responses
The Request Seller Responses process obtains responses, such as bids and proposals, from prospective sellers on how project requirements can be met.
Request Seller Responses process is a part of "Project Planning Phase".
The Select Sellers process receives bids or proposals and applies evaluation criteria, as applicable, to select one or more sellers who are both qualified and acceptable as a seller.
Select Sellers process is a part of "Project Execution Phase".
Both the buyer and the seller administer the contract for similar purposes. Each party ensures that both it and the other party meet their contractual obligations and that their own legal rights are protected. The Contract Administration process ensures that the seller.s performance meets contractual requirements and that the buyer performs according to the terms of the contract.
Contract Administration process is a part of "Project Controlling Phase".
The Contract Closure process supports the Close Project process, since it involves verification that all work and deliverables were acceptable. The Contract Closure process also involves administrative activities, such as updating records to reflect final results and archiving such information for future use. Contract closure addresses each contract applicable to the project or a project phase. In multi-phase projects, the term of a contract may only be applicable to a given phase of the project.
Early termination of a contract is a special case of contract closure, and can result from a mutual agreement of the parties or from the default of one of the parties.
Contract Closure process is a part of "Project Closing Phase".
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