Procurement Planning Paper

Procurement Planning Paper

CPMGT/302

University of Phoenix

25 Apr 2016

Procurement Planning Paper

        The procurement management process is purchasing and acquiring products and services to do the work that are from outside of the project team.  Procurement management also ensures that the items acquired meet the project standards and items purchased are right and are from the requirements of the project.  The procurement management life cycle involves tracking the orders to the deployment of it and ending with an invoice settlement.    

         The purpose objective and deliverable are what defines every project.  In order to ensure successful execution of the project, the purpose, objective and deliverable along with other project management aspects need to be define properly.  A deliverable can be formed into many different things.  An example of a deliverable could be information technology software or hardware and IT services such as consulting.  All of these items need to be identified by the project management team and then the team needs to make a decision to figure out the best method to get the needed resources.  After the requirements have been gathered and the interviews are complete the project manager will begin evaluating what the impacts will be of the data that was obtained in all of the knowledge areas so that the planning process can be facilitated.

         During the project this process is ongoing and applied the entire time while the requirements are being evaluated.  The project management plan is used against all of the work performance as a verification.  The execution of the strategy that has been agreed on is called the purchase process.  The purchase process includes creating the purchase order and the request of internal resources. The contract administration is the process that controls delivery, the deployment and the settlement of all the products and services which are known and procured.  After the procurement plan has been agreed on and defined, all changes that may occur to the scope now require a formal change management which is detailed in the integration process.

         The procurement management plan is the most important output from the plan procurement process.  All aspects of the project management process require the project team put in place an efficient and brief plan especially when dealing with all of the procurement components all throughout the life cycle of the project.  The procurement management plan is one that dictates and gives a description of the entire procurement process and how it relates to the documents that are developed and how contract closures effect it all.  The procurement manage plan should be created early on so that it can be implemented to ensure the process is reliable even though there may be changes due to budgets needing to be adjusted.