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Project Management and How It Relates to Purchasing and Supply Management - Term Paper Example

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This paper has presented an analysis of the project management function in the context of its role in procurement and supply chain management. Project management is a set of well-organized and synchronized processes, each process is connected with another but the basic purpose remains to achieve a common goal…
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Project Management and How It Relates to Purchasing and Supply Management
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Download file to see previous pages In the past few years, the majority of business organizations have started carrying out their business operations in the form of projects. In other words, they initiate projects to conduct certain business operations. In this scenario, project management is used to manage these projects. Basically, project management is an approach that encompasses a wide variety of planning and control practices that provide a wide-ranging view of managing projects in any commercial and industrial sector. In fact, it provides a synchronized approach to the project. In view of the fact that quick changes in a worldwide economy, increase in competition, advancements of technology and need for high-quality products, goods and services have added to challenges in project management which caused the increasing need for knowledgeable and experienced people and threatening likely delays. Hence, project management plays a significant role all the way through the business environment for the reason that it establishes a close relationship between the operational side of business effectiveness and cost to the tactical side of experience to competition and external environmental uncertainties (Mitra & Tan, 2012; Kerzner, 2006).
An organization must understand and apply management principles with the purpose of effectively managing and controlling organizational change. In this scenario, these principles can be adopted for either improvement or strategic. In fact, it is particularly right in the case of supply chain management. For instance, a business organization carries out a wide variety of activities as their improvement programs which can comprise:
  • Shifting their supply chain from a local to the global environment
  • Outsourcing some of the business operations to another organization (such as packaging or manufacturing)
  • Organizing and managing business deals
  • Managing relationships with their suppliers
  • Launching programs for cost reduction
  • Inventory management
Above mentioned activities require a great deal of coordination of resources in order to achieve an established goal within time and budget (Supplychain-Mechanic, 2013). In this scenario, project management processes are required to perform these operations successfully. The basic purpose of this research is to analyze project management in the context of its use in procurement and supply management.

Procurement is the most important element of the business industry. It encompasses a wide variety of aspects of project management such as acquiring material, goods, equipment, and services from external firms. However, procurement does not include other internal departments inside an organization. In view of the fact that procurement is a domain for which a project manager will be responsible for providing information and input, in various and possibly a number of firms, hence it is believed to be an area that the project manager does not own. Though, the project managers generally are not authorized to take part in contracts in support of the business organization, as well as they are not responsible for controlling the contracts once they are prepared or in process. ...Download file to see next pagesRead More
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sanfordchrist added comment 26 days ago
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Excellent paper! Used it to finish an assignment for a management course. It was easy as ABC, for the first time in my life.

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