Project Procurement Management
The objectives covered in this chapter make up 4 percent of the exam, equivalent to about 4 questions. Study the whole chapter in detail.
- PDF / 273,194 Bytes
- 32 Pages / 439.37 x 666.142 pts Page_size
- 4 Downloads / 197 Views
12 Project Procurement Management The objectives covered in this chapter make up 4 percent of the exam, equivalent to about 4 questions. Study the whole chapter in detail. It’s enough to just remember the name of the input, tools and techniques, and outputs. You should know what is in a given input item that the given process uses and how it helps generate the output, as well as what a given tool or technique does in a given process. You should understand very well how to apply procurement management concepts, tools, and methods, such as make-or-buy analysis, source-selection analysis, contract types, bid documents and procurement documentation, audits and inspections, and earned value analysis.
© Paul Sanghera 2019 P. Sanghera, CAPM® in Depth, https://doi.org/10.1007/978-1-4842-3664-2_12
470
Chapter 12 | Project Procurement Management
CAPM Exam Objectives Project Procurement Management: 1. Understand the three processes in the project procurement management knowledge area. 2. Identify the inputs, tools and techniques, and outputs defined in the three project procurement processes. 3. Identify key concepts and tailoring considerations for project procurement management, including trends and emerging practices. 4. Identify various types of contracts, agreements, source-selection methods, and contract types.
Some of the expected outcome items of the project will be developed by the project team, while others will be purchased or acquired, a process called procurement, which may also include items that are needed to complete the project and are not necessarily the end product of the project. Project management includes processes for acquiring products, services, or results from outside the project. Obviously, you need to plan for these procurements, and then you need to follow up on your plan and conduct these procurements. As you can imagine, procurement management, like any other process area, will need to be monitored or controlled. So, the core question in this chapter is: how do you manage procurements? This issue breaks down into three avenues that we will explore: planning procurements, conducting procurements, and controlling them.
Procuring the Project Resources: Big Picture Procurement refers to obtaining—purchasing or renting—products, services, or results, collectively called procurement items, from outside the project team to complete the project. Accordingly, procurement management is the performing of a set of processes used to plan and obtain (procure) those things from outside the project team to complete the project. There are two main roles involved in procurement management: • Buyer. The party purchasing—i.e., procuring—the items • Seller. The party delivering the procurement items to the buyer As illustrated in Figure 12-1, procurement management includes the following components:
CAPM® in Depth 1. Plan Procurements. This is the process of making purchasing decisions on what to procure, identifying potential sellers, determining the procurement strategy, and making the overall procurement
Data Loading...
