This document discusses how project management principles can be used to enable strategic sourcing and deliver measurable business results. It proposes overlaying the project management framework of initiating, planning, executing, controlling and closing onto the strategic sourcing process. A simplified form of earned value management is also suggested to measure progress within each phase of strategic sourcing. The document provides examples of how this approach has worked for commodity councils, allowing them to proactively achieve goals and realize significant cost savings and improvements.