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Contracting and Procurement in Project Management - Essay Example

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Author : lemuel17

Summary

Procurement is one of the most important and critical aspects of the overall project management as it involves interaction with the persons external to the project. In order to successfully manage and execute the process of procurement, it is very critical that it is rightly managed with care and professional attitude.

Extract of sample
Contracting and Procurement in Project Management


Defining what procurement management is, it is of importance that we must understand the fact that procurement is a process which involves external players therefore the project managers must take an strategic view of the whole process. Procurement is defined as "the process of purchasing goods or services from the vendors" (Phillips, 2003). This definition itself suggests two important components of the procurement process. These are the purchase of goods and services and vendors.
For our proposed procurement of scheduling software including its deployment through the hiring of technicians and procurement of hardware and software would involve a systematic process and we need to address the issue with maturity and systematic approach. I intend to approach this whole process of procurement in following manner.
The process of solicitation involves the assessment of the needs of the project. At this stage of the procurement, we intend to outline what our needs are in greater detail so that all the requirements are properly identified. As per the requirements of our project, we identified following requirements for the procurement of scheduling software:
The above requirements are very clearly i ...
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