StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Procurement management - Assignment Example

Comments (1) Cite this document
Summary
Such is the careful design of the processes and the activities to be undertaken to achieve success in procurement of the materials. The paper looks at the…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.9% of users find it useful
Procurement management
Read TextPreview

Extract of sample "Procurement management"

Procurement Management Introduction In generation and review shepherding of projects to the desired conclusion,a number of inputs and processes are required. Such is the careful design of the processes and the activities to be undertaken to achieve success in procurement of the materials. The paper looks at the processes followed to review the requirements, and the specifications for procurement, as well what I would gather as part of the procurement specification.
Major steps involved in the review of the requirements are outlined below.
Planning for the procurement- in this very critical process, there is a need to establish if the procurement is necessary or required in the first place. Other concerns in this step include the determination of what to procure, how much to procure and finally, when to do the procurement. In the same process, the project manager and the procurement management team decide on the question of make-or buy the items required for the project accomplishment.
Identification of the type of the contract- once a need has been ascertained to obtain the items and materials from an outside source, the procurement team, will embark on deciding on which type of contract to sign with the prospective bidders. Very key in this process is to question the risk management strategies with different bidders. The prospective suppliers must be comprehensively engaged on this concern to explore any possibilities of risk occurrence, and the risk mitigation strategies that are in place to cushion the firm from the impacts. It is upon such establishment that such contract types as the cost plus fixed fee or cost plus the incentive fee will be agreed upon (Project Management Institute-PMBOK 2008).
The third stage is to develop the standardized procurement documentation. These documents are drafted and reviewed every now and again depending on the circumstances at any given stage of the project implementation. Such important procurement documentation include the standard forms, the quotation proposal, the Invitation For Bid (IFB), the Request For Quote (RFQ) and other form templates used in the process created specifically for the procurement processes.
The Procurement Management Plan- in the plan, the project manager puts in place the roles and responsibilities of the project team and that of the organization. Notably, creation of understanding among or between the project team members and the organization is necessary at this point. This is because such arrangements, more often than not, create the conflict of interests, duplication of responsibilities and the completion for resources by the members of the different teams. In this concern, such organizational structures like the work breakdown structures and the organization breakdown structures must be compromised to enhance the work flow in the project implementation (Albert 2004).
Finally, there will be the establishment of the procurement evaluation criteria and the corrective actions taken thereafter upon the failure of the earlier processes. At this point, the organization sets out to begin the solicitation for the willing and able suppliers (Fisher & Ury 2008). Examples of the documents to be prepared and used in this process include the qualified seller lists.
Concerning the information, I would gather as part of the procurement specification include the scope statement that outlines and gives the limits of the project size and activities anticipated. I would also consider the healthy, safety and the environmental permits. Also to inform my decisions on the general project organization will be the Work Breakdown Structures (WBS) and the Organization Breakdown Structures (OBS) in place. Project schedules and budgets also form crucial part of the information I will gather towards achieving this task (Albert 2004 p. 18). Team discussions, especially, the project team engagement will be instrumental in providing valuable information.
Therefore, it is imperative to note that cautious and well planned procurement process is achievable through teamwork and consideration of all the determinants of the success of any project work.
References
Project Management Institute. 2008. A guide to the project management body of knowledge
(PMBOK). 4th ed. Newton Square: Project Management Institute.
Albert, D. 2004. Handbook of Project Management Procedures. TTL Publishing, Ltd.
Fisher, G & Ury, H. 2008. Getting To Yes. Houston, Chicago. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Procurement management Assignment Example | Topics and Well Written Essays - 500 words”, n.d.)
Procurement management Assignment Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/management/1633732-procurement-management
(Procurement Management Assignment Example | Topics and Well Written Essays - 500 Words)
Procurement Management Assignment Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/management/1633732-procurement-management.
“Procurement Management Assignment Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/management/1633732-procurement-management.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
cy
cydney49 added comment 2 months ago
Student rated this paper as
I didn’t know how to start my research paper. "Procurement management" helped me out a lot! Especially the list of structure was valuable.

CHECK THESE SAMPLES OF Procurement management

The Great Academic Reputation of the Undergraduate University

3 Pages(750 words)Personal Statement

Procurement Management Plan

...?Introduction Procurement management plan is designed to define the process and requirements for the project. This plan will unite the scope of the project with the risks associated with procurement. The plan will elaborate the process from procurement planning to procurement closure. This plan has the following outlay. Items to be procured, Expected Cost, Budget and Schedule Procurement Team Hierarchy Contract Type Vendor Selection Contract Closure Items to be procured, Expected Cost, Budget and Schedule After finalizing the make or buy decision, the following products have been finalized for...
4 Pages(1000 words)Research Paper

The Relationship between Technology and Modern Life as a Double-Edged Sword

6 Pages(1500 words)Essay

Contract management and Procurement management

...of the whole project management and project life cycle in more details as compared to other components of the project. It is therefore of great importance that the project managers must find a perfect fit between the different components of the overall project. Contract Management and Procurement management are two most important concepts of project management where project managers tend to interact with external players such as vendors, suppliers as well as regulatory authorities. The management of contract and procurement processes therefore needs special skills to fit them properly...
4 Pages(1000 words)Essay

Project Procurement Management

...Project Procurement Management Background information and objectives TopLiance Corporation sells home appliances. They have over 50 sales agents across multiple states. They have decided to implement an online sales program, which is Internet based and is expected to increase the sales volume and enhance the profit margin. As a person leading the project team, my objective is to generate the project charter, schedule and rough cost estimate. The Project Charter The project initiation phase consists of defining the Project Charter. The Project Charter is "A document issued by senior management that formally authorizes the existence of a project. And it appoints and provides the project...
3 Pages(750 words)Essay

Project Procurement Management

...The project manager, Gus, made some mistakes, which would have been avoided if he had taken careful consideration in monitoring the software development by Bob. For instance, Gus personally developed the in-house database and he is fully aware of the application, which is compatible with the required software, Windows XP and not Windows 7. A critical analysis of the case study shows that the incompatibility of the OCR software with the database is not Bob’s fault. Project Procurement Management principles posit to the effect that the buyer of materials or resources required for the execution of a particular project should clearly outline his or her requirements in order to ensure that...
1 Pages(250 words)Essay

Procurement management

...Section 2 A) A ment of work for a textile industry Project scope: To procure new software solution to capture the data readings from the textileindustry’s emissions systems and consolidate them into government mandated internal Internet site. Deliverable: The software needs to read 10 emission gasses, in 5 different manufacturing processes. Period of performance: July 20 2012 through April 1 2013. UCSD project manager: A senior PM of textile industry. Title: N/A Physical location: Work will be carried out off textile factory at vendors address. Supplies and equipment: No factory equipment or...
6 Pages(1500 words)Assignment

Supply Relationships in Procurement Management

... Supply Relationships in Procurement Management Introduction Essentially, procurement management involves the process of sourcing the required goods or services from independent external suppliers. Basic steps of an ideal procurement process include explicit determination of products or services to purchase, identification of suitable external suppliers, establishment of purchase and delivery agreements with the suppliers, reception of goods or services from suppliers, review as to whether supplied goods or services meet expected standards, and finally approval or disapproval of the suppliers’ delivery based on standards reviewed. In practical...
12 Pages(3000 words)Essay

Contract and procurement management

...to participate in electronic auction process (Purchasing.upenn.edu, 2005). Reverse e-auction is a tricky process and following critical success factors should be kept in mind while implementing reverse e-auction process. It can be more troublesome in our case where the client is impatient for savings and all existing contracts (Scribd.com, 2015). . The main reasons for unsuccessful e-auctions are: specifications of products and services are ambiguous; participating persons are not provided proper training; internet connectivity issue during some event can be damaging; supplier errors and inappropriate bidding can fail reverse e-auctions (Infosys.com, 2014). Time deadlines are very important in procurement process. A...
8 Pages(2000 words)Case Study

INF336: Project Procurement Management Wk1

...Project Procurement Management Risk management Risk management is a very essential aspect in project management. Just like other project decisions, the supply chain decisions also have great risks involved. In as much as the supply chains to an extent increase the efficiency very recent occasions of tsunami and unexpected earthquakes have clearly showed the extent to which the consequences of such risks could move. For instance, there have been severely influenced worldwide electronics production and mass disruptions on business such as automotive industries due to risks such as floods, earthquakes and ash clouds. An example of such risks that affected...
2 Pages(500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Procurement management for FREE!

Contact Us