Professions in Project Management are required in all industries. They are in need because of the skills required, which differ between various industries and geographical regions. According to the 2014 report of a survey by PMI There are huge opportunities for professionals in Project Management. When companies hire people with diverse backgrounds, the demand for project managers who have an agreed set of skills is increasing. Project managers will be required to manage projects that focus on system restructuring, translate strategic goals into concrete objectives and guarantee effective and concordant outcomes, and balancing the various project requirements. Once we have a clear comprehension and the essence of what PMP is all about Let's revisit the first question. There are advantages as well as costs to taking this PMP certification.
Project Procurement Management includes the procedures of buying or purchasing the necessary items to run the business. The business could be a buyer, seller or service supplier.
Project Procurement Management also includes managing any contract signed by an outside company and also ensuring that work is completed in the absence of within the team of project.
Plan Procurement Management includes four stages like
- Plan Procurement Management
- Conduct Procurement
- Control Procurement
- Close Procurement
The plan's inputs into procurement management
- Requirements documentation
- Agreements on teaming
- Risk register
- Scope baseline
- Project schedule
- Cost estimates for activities
- Cost performance benchmark
- Risk-related contract decision making
- Enterprise environmental factors
- Assets of the organizational process
Conduct Procurement process
Conduct Procurement is a process that involves activities similar to
- When choosing the right seller
- Responding to seller inquiries
- A contract is awarded
The advantage of a procurement is that it allows for the aligning of internal and external expectations of the stakeholder through agreed agreements.
The conduct procurement process is
- Project management plan
- Documents to be used for purchasing
- Criteria for selecting sources
- Qualified seller list
- Seller proposals
- Project documents
- Buy or make purchases
- Collaboration agreements
- Assets of the organizational process
Control Procurement
It's the procedure that monitors the performance of contracts and making corrections to the contract according to the guidelines. It ensures that both sellers and buyers comply with the requirement for procurement in accordance with the terms of the legal contract.
The control procurement inputs for the Control Procurements comprise
- Project management plan
- Procurement documents
- Contracts
- Approved change requests for changes
- Reports on performance at work
- Work performance data
The output contains
- Information on performance at work
- Change requests
- Updates to the project management plan
- Project documents updates
- Updates to the Organizational Process Assets
Close purchases
This process involves capturing the agreements as well as other papers to be used in the future.
The input for this tool is comprised of
- Project management plan
- Procurement documents
Its result is
- Closed procurements
- Updates to the Organizational Process Assets
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