Plan Procurement-Tools and Techniques

Project Procurement Management

    Plan Procurement-Tools and Techniques

  • Make or Buy Analysis

              A make or buy decision will need to be taken where the option exists to do work in-house as part of the project or to purchase some products or services from outside suppliers. The most important thing to note about these decisions is that the project manager should not be the one to taken them. It is the project managers responsibility to perform the analysis in each case but the  actual decision must be taken by the project sponsor the analysis in each case but the actual decision must be taken by the project sponsor and documented as such. The reason why is so important is because of the potential risk involved in passing work to a third party over whom the project manager has no direct control. The analysis should consider all related costs both direct costs as well as indirect  support costs.

    Expert Judgment

              Project manager that responsible for monitoring and controlling the project work, then it's their judgment than is needed to weigh the evidence of project performance so that this can be evaluated and if necessary take appropriate corrective action. This would typically be sought from both the purchasing department and the legal department.

    Market Research

              Market research provides relevant data to help solve marketing challenges that a business will most likely face--an integral part of the business planning process. Procurement teams may use information gained at conferences, online reviews and a variety of sources to identify market capabilities.

    Meetings

              Meeting is the best opportunity for a project manager to distribute information and communicate with the team and stakeholders. A Project Meeting is a routine work that involves everyone, who shares or is interested in the project, in communicating with other participants and stakeholders by discussing issues, making proposals, approving or rejecting offers, for the purpose of generating group decisions that contribute to quicker project delivery, according to the planned goals and expected results.

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