Procurement in Project Management Methodologies

Q: What exactly is procurement management and how should it be included in my project management methodologies?

A: Well, procurement simply means obtaining goods and services from outside of the business. It’s like outsourcing to a certain extent. You usually don’t have time to do everything yourself so you “procure” goods and services externally to help your projects out. So therefore “procurement management” is manging the procurement of goods and services from external suppliers. In your project management methodoloigies, you definitely need a formal proejct management process for managing procurement, as does our project management software. The reason is that more often than not, if a supplier delivers their goods and services to you late / at a higher cost than expected / at a lower quality than expected, then it will impact on the outcome of your project.

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