Procurement Management Summary

According to the Project Management Institute (2013), plan procurement management is the process of documenting project procurement decisions, specifying the approach, and identifying potential sellers. This step helps the organization determine whether or not they should acquire outside support. If done correctly this step should help the organization know exactly what they need to acquire, how to acquire the appropriate services or products and finally how much it will cost the organization. For example, in the above case study Providian Trust has determine that they would benefit from an outside vendor, they have also decided to go with the Access Plus software to help them achieve their goals. Additionally, they have determined the price and timeframe; the project was to last for 20 months and cost $18

The project scope statement is a key element in any new project. It is used to outline the results that the project will produce and the terms and conditions under which the work will be performed. Upper management, the requestor of the project and the project team need to all agree on the

With the exceptional growth in technology, the present day projects are often large and complex involving a significant risk. So, a Project Management Methodology enables the delivery organization to handle these projects comprehensively, systematically and in an integrated manner, which results in strategic, tactical and operational benefits.

The needs of a project must be carefully identified, sourced and acquired to have a successful procurement process. Procurement planning is essential to the overall success of a project. It involves identifying the materials and services, finding the suppliers, and properly documenting the transactions.

Insurances The contract allows either the contractor or the owner to insure. Provision is also made for one party to take out and maintain the insurance where the nominated party fails to do so or fails to provide acceptable evidence that the insurance in is place

Procurement management is the processes to purchase or acquire the products, services or results needed from outside the project team to perform the work. Project Procurement Management involves not just purchasing products, services or results, but also ensuring that those that are purchased are right for the project, meets standards and is based on project requirements. This life cycle includes tracking from order through deployment and completing with invoice reconciliation.

The Technology Procurement Plan Template will provide a tracking document that allows for better planning and procurement for all technical and non-technical procurement projects. The Technology Procurement Template will give us the tool to determine the projects requirements, and identify all necessary task that need to be complete from the beginning to the completion of the project. The Technology Planning Template will also server a planning document for submitting all current fiscal year projects, and procurements request during our planning meetings.

Use at least five (5) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.

The acquisition process is a vital component of project management. The requirements to ensure successful execution of a project must be logical and efficient. It requires rigorous planning and constant improvement of the project plan in order to discover and address any potential issues that may interrupt the final delivery. Applying proven acquisition processes and principles will aid Project Managers in creating an environment for success.

The scope definition phase will involve the following tasks: (a) identify baseline problems and opportunities; (b) negotiate baseline scope; (c) assess baseline project worthiness; (d) develop baseline schedule and budget; and (e) communicate the project plan (Whitten, 2007, P.167). The scope definition phase is concerned with the system owners’ view of the existing system and problems or opportunities that triggered the interest. The following brief statement of problem, opportunity, or directive has been identified based on the Puzzle Palace narrative:

It is concluded from report that project management methodology plays a significant role in manufacturing organization. PMM helps managing team in project initiation, planning, designing, execution, monitoring, controlling and closing with the key role of project manager in this process. The PMM allows the organization to meet their production requirement for the future, while in the meantime not disturbing their current generation to satisfy customer interest.

Defining the project scope sets the stage for developing a plan and its primary purpose is to define as clearly as possible the deliverables and to focus project plans (Gray & Larson, 2006). The team has

It is a process of creating and documenting a detailed description of the project undertaken.

The important of the procurement plan is all needs will be listed and to be obtained over a period time. When procurement schedule develops, all the procurement process will be timelines and fulfillment. Furthermore, procurement plan allows one contract consists of similar needs or division needs into several contract packages. With procurement plan, it allows to monitoring procuring process to determine actual performance compare with planned activities and to alert the related departments and adjust the procurement plan. Hence, it enhances the transparency and liability of the procurement

Procurement is the process by which organizations acquire goods, works and services. The procurement cycle involves planning, beginning with needs assessment through needs preparation, inviting offers, contractor selection, awarding contracts, executing and managing contracts, as well as final accounting and auditing. Procurement can therefore be viewed as a strategic component of supply chain management relating to satisfying customer or buyer needs.