Reflective Journal: Procurement Management - Week 7 Insights

This reflective journal entry focuses on procurement management, specifically week 7's content. The author reflects on the importance of procurement in project management, the roles of buyers and sellers, and the impact of procurement strategies on project success. The journal discusses the significance of vendor relationships throughout the project lifecycle and highlights the value of understanding both macro and micro procurement environments. The author also expresses a desire to explore real-life case studies to enhance understanding and plans to expand knowledge on different procurement processes. The reflection includes references to academic literature on the subject.

Running head: REFLECTIVE JOURNAL
Reflective Journal Week 7
Name of the Student:
Name of the University:

1REFLECTIVE JOURNAL
Week 7: Procurement Management
In week 7 reading, I discussed about importance of the procurement
management in the project management. Throughout procurement
management, there is delivery of project materials as well as providing an
understanding of the role of the procurement strategy. I come to know about
various factors considered for making and buying decisions of the materials
like cost, skills, nature of demands and others.
The
Insight
Describe
Procurement is a process for buyer and seller relationship, therefore in this
week, there is mentioning of various names of buyer and seller for the
project (de Araújo, Alencar and de Miranda Mota 2017). Seller and buyer
process is discussed, so that I understand that procurement is required for
meeting with contractual requirements. Image description of the procurement
management helps me to understand the procurement process and
procurement chain.
Interpret
The week 7 understanding would be better if there is evaluation of any real
life case study in the lecture, so that reader can get a critical understanding of
work. I learned that through procurement management, I am able to establish
as well as maintain a good relationships with the project vendors as well as
services through the project lifecycle (Kerzner 2017).
Evaluate
This week study helps me to understand areas of the new procurement
strategies as corporate procurement and project procurement. I planned to
increase my knowledge on the two types of procurement environment like
macro and micro to know about internal and external procurement processes.
The information that I gained from this week readings changed my
perception on adopting new forms of the procurement processes based on
Plan

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relevance found to be effective.
References
de Araújo, M.C.B., Alencar, L.H. and de Miranda Mota, C.M., 2017. Project procurement
management: A structured literature review. International Journal of Project
Management, 35(3), pp.353-377.
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.