PMP-Project Procurement Management

It doesn't make sense  for your company to do some jobs on its own. Even when the job isn't too big, it may just be that you don't have the expertise or equipment to do it. When that happens, you need to use Procurement Management to find another company to do the work for you. If you find the right seller, choose the right kind of relationship, and make sure that the goals of the contract are met, you'll get the job done, and your project will be a success.

The procurement management processes are:

• Plan Procurement Management  Plan out what you'll purchase, and how and when you will need the contracts to be negotiated for your project.
• Conduct Procurements  Decide on the seller (or sellers) you are going to work with, and finalize and sign the contract.
• Control Procurements  Keep tabs on the contract. Make sure  your company is getting what you paid for.