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Procurement Management

The processes required to acquire goods and services to attain project scope from outside the performing organization, consisting of:

  • Procurement planning – determining what to procure and when.
  • Solicitation planning – documenting product requirements and identifying potential sources.
  • Solicitation – obtaining quotations, bids, offers, or proposals, as appropriate.
  • Source selection – choosing from among potential sellers.
  • Contract administration – managing the relationship with the seller.
  • Contract closeout – completion and settlement of the contract, including resolution of any open items.