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1.  Introduction

Procurement Management is the knowledge area involved in purchasing or acquiring products, services, or results from outside the project team, including developing and administering the contract or purchase order needed to obtain them.

2.  Procurement Management Processes

There are four project management processes in the Procurement Management Knowledge Area.  One is the in Planning Process Group, one is in the Executing Process Group, one is in the Monitoring & Controlling Group, and one is in the Closing Process Group.

The first process, that of Plan Procurement Management, creates the Procurement Management Plan which is the framework for all of the other processes.  The second process, that of Conduct Procurements, is where the bidding process for a contract is conducted.  The responses or bids of the sellers are evaluated according to criteria set up in the Procurements Management Plan, and the seller is selected and the contracted awarded.  During the course of the project, the Control Procurements process manages the relationship, evaluates the performance of the seller on the contract, and any changes or corrections that are required to be implemented by the seller are monitored.  As the only process in the Closing process group other than Close Project or Phase, the Close Procurements process is where the deliverable from the seller is accepted and the project procurements are formally closed.

The next post will discuss the inputs, tools & techniques, and outputs of the first process, 12.1 Plan Procurement Management.

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