Project Management & Procurement

Added on -2020-02-23

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Running head: PROJECT MANAGEMENT AND PROCUREMENTProject Management and ProcurementName of the Student:Name of the University: Author Note:
1PROJECT MANAGEMENT AND PROCUREMENTTable of ContentsIntroduction......................................................................................................................................2Overview of Project Procure Elements............................................................................................2Influence of risk and control level on procurement.........................................................................3Conclusion.......................................................................................................................................4References........................................................................................................................................5
2PROJECT MANAGEMENT AND PROCUREMENTIntroductionProject procurement management depends on the collaborative and cohesiveness of theproject manager during the time of planning and managing the procurements (Flatscher & Riel,2016, pp.181). Project procurement management is the part of the implementation plan fordetermining the necessities of the project deliverables delivered within the allocated budget. Thestudy would provide the analysis of the project procurement elements that have the significantinfluence on controlling the risks. The description of the procurement process is structuredbelow. Overview of Project Procure ElementsIn the previous process, the project procurement process included six major elements thatare revised in these days. The current procure management has four major elements, such asplan procurements, conduct procurements, administer procurements, and close procurements.The plan procurement, administer procurements, and the close procurement have the similarfeatures whereas conduct procurement has the different functions (Lloyd-Walker & Walker,2015, p.35). The conduct procurement includes three process areas, such as Plan Contracting,Request Seller Responses and Select Sellers. The procure management is often misunderstoodor poorly understood in the area of PMBOK guide. In usual cases, the procure managementfunctionalities are handled in different offices and the project manager often has the littlecontribution in the procure management process (Ojeda & Reusch, 2013, pp.530). The productprocurement process not only refers to the goods or services that are needed to be delivered, itdeals with the raw materials, integrated time, and the entire planning process. It also determines

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