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Contracting and Procurement in Project Management - Essay Example

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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...
The above requirements are very clearly identified and are diversified in nature i.e. will not involve just one vendor. It is therefore important that we must identify and select capable vendors to deliver the above for the successful completion of the same.
Selecting Vendors
Selection of vendors is the next phase in this process of procurement. Selecting vendors require that we must clearly have an idea of what exactly our needs are If we fail to clearly identify the needs at the solicitation stage, selection of vendors would be an idle exercise. Since the requirements of our project are multiple in nature therefore we would be planning to approach multiple vendors so that our requirements are properly met. In doing so, our first step would be to approach our approved vendors. For this purpose, we will refer to the list of vendors already approved by our firm.
Selection of vendors plays critical role in delivering the project on time therefore it is important that the selection of vendors must match our exact requirements. Our approach would be to first match our requirements with the capabilities of the vendors. Those vendors who have the necessary capability to deliver what we require would get the approval and we will further explore to choose the best among them considering our costs and proposed benefits.
Contract writing
Our next phase would involve writing contracts with our proposed selected vendors. Contract management is one of the critical phases of the management of the whole project. At this phase of our procurement we will be outlining the legal rights and obligations of both the parties to contract i.e. us and our selected vendors. This therefore would also involve our legal team since the contract would be written keeping in ...Show more


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.
Author : lemuel17
Contracting and Procurement in Project Management Essay essay example
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