Procurement Management

Abstract

This chapter focuses on the topic of Project Procurement Management; like the other knowledge areas, it begins with a process of planning, which in this case produces a procurement management plan. It then uses this plan to carry out the procurement work, which involves making decisions about whether to procure goods, services, or resources from external sources and, if so, how to advertise and award the contract, and what form of contract to use. Procurement management also involves monitoring contractual terms for performance and includes a process for making sure all contracts are formally closed.