(BSBPMG518) - Manage Project Procurement

Running head: MANAGE PROJECT PROCUREMENT
BSBPMG518 - Manage Project Procurement
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1MANAGE PROJECT PROCUREMENT
Table of Contents
Introduction......................................................................................................................................2
Procurement management approach................................................................................................2
Procurement definition....................................................................................................................3
Type of contract to be used..............................................................................................................4
Contract approval process................................................................................................................5
Decision criteria...............................................................................................................................5
Vendor management........................................................................................................................6
Performance metrics for procurement activities..............................................................................7
References........................................................................................................................................8

2MANAGE PROJECT PROCUREMENT
Introduction
The plan is focused on defining the procurement requirements for the project and process
for developing the documentation for procurement through contract closure. This plan illustrates
the approach that will be followed to manage the procurement requirements for the project.
Further, the definition of procurement is also provided to describe the items that will be procured
and under what conditions. The contract type that is being utilized for this particular project and
process through which contracts must be approved is also mentioned in this plan. The decision
criteria for awarding contracts along with suitable methods for vendor management are also
highlighted in this plan. This plan also illustrates the metrics that will be used for the
procurements activities related to the project.
Procurement management approach
The procurement for this particular project to acquire staffing solutions for the Able
Communications will be carried out in different phases as illustrated below:
Selection of the contract approach – A work description that have to be outsourced will
be developed by the project team. The procurement team will find the answers to specific
questions that are required for determining the approach to obtain the required goods or services
(Pheng 2018).
Solicitation of bids – It is the process to request price or required information from the
bidders. The bids are solicited in either form of Request for Quote (RFQ) or Request for
Proposal (RFP). For this particular project, RFQ (Request for Quote) has been selected as the
suitable method to acquire staffing solutions for Able Communications. The price required for
the services will be quoted by the bidder and the contract will be awarded to that bidder who