Project Procurement Management - Definition, Processes, Templates
You find hereafter the definition and the processes involved in Project Procurement Management (PMBOK®) and free downloadable templates further down on this page. I developed the templates over time from real life documents.
A solid Project Procurement Management Plan is very important component of the Project Management Plan. It describes how a team will acquire goods and services from outside of the performing organization.
Definition of Project Procurement Management (PMI™)
Project Procurement Management are the processes necessary to purchase or acquire products, services, or results needed from outside the project team to execute a project. (PMBOK® Guide)
Project Procurement Management Processes (PMI™)
Plan Procurement Management
- Plan procurement management is the process of documenting project procurement decisions, specifying the approach, and identifying potential sellers.
- Conduct procurement is the process of obtaining seller responses, selecting sellers, and awarding contracts.
- ... is the process of managing procurement relationships, monitoring contract performance, making changes and corrections as appropriate, and closing out contracts.
Download Area Project Procurement Management Templates
All you need to know about Project Procurement Management
Not all project procurements are the same. Unless the project carefully makes an assessment of the items it will make, versus the items it will buy, and then adequately plans for these purchases, the risks of performance will increase. Project procurements are simply sub-projects, which need to be managed well, not blindly delegated to an independent organization to buy for the project.
Certain procurements, major complexity developments, creating something new, which does not exist, according to the project's unique specification, must be managed by the project team, and supported by the professional procurement organization. The project's team leader must assume the management responsibility.
This book zeroes in on the effective management of that portion of the project which will be performed by another organization. It focuses on the procurement of scope from an organization outside of the project. Often, the success or failure of a project is dependent on how well the project can plan, define, solicit, authorize and manage this external relationship.