Manage Project Procurement Name Date Answer to Q 2 Procurement Stakeholders
Added on 2021-06-18
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Manage Project ProcurementNameDate
Answer to Q 1Procurement refers to the process of finding products, works, or services from external sources, agreeing terms, and acquiring the goods/ services usually through a given defined process such as tendering, single sourcing, or competitive bidding (Dalkin, 2014)Answer to Q 2Project stakeholders refer to a group, individual, or organization that may affect, perceiveto be affected by a given project undertaking, or be affected by any activity, decision, or outcome of the project. For example, a company CEO that approves a major capital investment their organization will be affected by the project outcomes; it can fail or succeed, and so is a stakeholder (Usmani, 2018)Answer to Q 3The recent car recalls by Toyota for various problems, including faulty seats and steering is due to a gap in the procurement process (‘The Economist’, 2010). The gap in this case is reliance on single sourced suppliers that have been used before, and so are assumed to be able to deliver the right product, without fresh vetting or testing of the delivered products long term. This gap can be filled through competitive bidding and extensive product testing of samples before making a substantial order and using them in carsAnswers to Q 4In making the order for chips for the Tsunami benefits game, the first step would entail determining the amount of chips to order and the required quality, then evaluating this against a budget, and then determining the possible suppliers. The next step would be to invite the identified suppliers to give more details and then vet them based on set criteria, including price, quality, ability to deliver, compliance with standards and regulations, guarantee on quality (Steinfeld, 2010). The documents to rely upon in making the decision include the potential suppliers’ company profiles and certifications to demonstrate compliance and capability. The expected attendees list from ticket sales will also be used to forecast the demand for chips. The relevant regulations and rules by authorities (State and Local) will also be used to get the exact requirements in procuring food for a public event
To help make the decision, samples would be requested from all suppliers, along with thestaff involved in the supply and a document on the supplier supply chain process, including how and where they source the raw materialsOrdering too few would mean some people stay hungry, while ordering too much will result in wasted food as well as resources and time taken to dispose of, or manage the surplusAnswers to Q 5The plan for when to procure services or products for project activities is done based on the project plan itself, the schedule of activities (WBS), the approval time for the project and funds, and the milestones and project deliverables (Norman, Brotherton, & Fried, 2011). The project manager working with a supply manager decides on when to make project procurement. The documents to refer to when planning procurement include the Work Breakdown Structure, the Project quality planning document, the risk management document, and theproject Gantt chart as well as the organizations’ procurement policies and regulations document When products or services arrive early, they add to costs of storage and management and can force compression of project tasks to accommodate the early arrival; when they arrive late, its worse since this inevitably leads to delays, affected project scopes, and increased costsAnswers to Q 6In going to the market, consideration is made on whether the particular product or servicecan be single sourced, must be tendered for or competitive bidders invited: basically the form of invitation to express interestIn evaluating responses, all interested bidders are evaluated against a benchmark on a variety of factors, including capacity, legal issues, financial strength, experience, and the
personnel as well as compliance with various legal and statutory regulations, including environmental complianceIn developing a contract KPI’s, the project objectives and deliverables are referred to, as well as the project and quality management plansMonitoring contractor performance is done through inspection of works and reviewing the project progress report against the project plan (Gantt chart) and project scope and budget (Mead & Gruneberg, 2013)This is initiated officially by the project manager and then sent to the executive sponsor/ owner and/ or the project steering committee for approvals. Approvals must be informed by circumstances, including the inputs such as project plan, the techniques and tools such as market research and expert analysis, and the plan outputsConducting reviews on procurement activities entails evaluating all inputs to the plan, including the activity cost estimates, whether the objectives were met, and if the quality and budget parameters were metWithout such documents, procurement becomes ‘much easier’ but highly flawed since a random decision can be made without going through the due process and reviewing other documents and inputs, but with disastrous consequencesAnswers to Q 7Purchase of commercial juice extractor for multiple fruits (configurable) for an upcomingestablishment of a fresh fruit juice processing plantThe team searched online suppliers’ portals and supplier associations to seek out potentialsuppliers using the internet and catalogs. In addition, the placed adverts in local and international media (print and electronic), seeking for expressions of interestThey used the company procurement policy guidelines to determine the suitable acquisition plan, the procurement initiation request document, and the form of invitation. The listed suppliers are the following;
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