Question

As part of the project management process, consideration must be given to acquiring the products and services that will be used during the project to produce the desired product. Project managers are tasked with sourcing these goods and services and creating and managing contracts with the sellers

1. Explain the importance of project procurement management.
2. Explain the activities associated with conducting and controlling procurements.

Answer 1

Solution:

1:
The procurement for projects is a very important aspect of any project because the project is in constant need of materials required to move the project ahead by the completion of preceding activities. Thus, the project needs a constant refill of materials to ensure the project flow is smoothly flowing. Hence, if we are unable to provide the raw materials on time then the project slack will be reduced, thus reducing the probability of finishing the product within the timeline. This is why the procurement in a project should be top class and continuous in nature to ensure that the project is flowing in a required way.

This is why project managers put so much emphasis on the importance of procurements in a project. Hence, we should focus on better procurement for a smooth flow of project operations.

2:
To conduct and control procurement there are various elements. First the concerend manager has to submit RFP to the procurement manager who will then study the RFP and approve it from concerned people. Once the RFP is approced the procurement manager can then proceed towards the procurement of the required materials to ensure they are available when needed by the project.

The procurement can be conducted on the internet known as the e-procurement or the traditional offline way. The procurement requires a high negotiation skills and knowledge of the products is essential for the product manager. THe deals should be well finalised for the entire course of the project so that we do not face supplier shortage during the project.

HEnce, these are some activities associated with conducting and controlling the procurements.