Project procurement management involves purchasing products, services, or results from outside sources. It includes planning procurements by documenting decisions and identifying sellers, conducting procurements by obtaining bids and awarding contracts, controlling procurements by managing vendor relationships and monitoring performance, and closing procurements by completing each transaction. Key concepts are using vendor contracts, monitoring vendor performance, and maintaining records of vendor activities.

1. Day 3 Final Revision
(Procurement)

2. 2

3. 3Procurement Management
Project Procurement Management includes the processes necessary to purchase or acquire products,
services, or results needed from outside the project team. The organization can be either the buyer or seller
of the products, services, or results of a project.
Key Concepts
 Vendor Contracts to ensure
smooth delivery from both
sides
 Vendor Performance to
monitor vendor’s work effort
 Records Management
System to keep track of
vendor activites

4. 4Procurement Management
12.1 Plan Procurement Management—The process of
documenting project procurement decisions,
specifying the approach, and identifying potential sellers.
12.2 Conduct Procurements—The process of obtaining seller
responses, selecting a seller, and awarding
a contract.
12.3 Control Procurements—The process of managing
procurement relationships, monitoring contract
performance, and making changes and corrections as
appropriate.
12.4 Close Procurements—The process of completing each
project procurement.

5. 512.1 Plan Procurement Management

6. 612.2 Conduct Procurements

7. 712.3 Control Procurements

8. 812.4 Close Procurements

9. 9