Procurement Of Procurement Management Process

999 Words Feb 2nd, 2016 4 Pages
Every project involves many different processes, tasks, and planning. Each project will involve some level of procurement risk associated with contracts. The procurement management process will need to be determined. In order to have a successful team the administrative and behavioral aspects will need to be addressed. Once these are addressed some team development strategies will need to be employed to increase the characteristics of an effective team. Once an effective team is gathered a communication strategy will need to be implemented. All of these piece must align to aid in the project management process.
Project Procurement Risk In order to complete a project goods and services are required. The project management process uses procurement in order to obtaining or buying goods and service (Business Dictionary, 2016). There are many different forms of procurement contracts. Each contract is associated with a different level of risk, which will need to be examined. The procurement process is not a one step process, it consist of multiple management steps.
Types of Procurement Contracts Not all procurement contracts are identical, since there are different types of goods or services being acquired. There are four different types of procurement contracts, which are Fixed Firm Price (FFP), Fixed Price Plus Incentive (FPPI), Cost Plus Fixed Fee (CPFF), and Cost Plus Percentage Fee (CPPF) (South University Online, 2016a, para 3). The FFP contract “provides for…
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