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Monitoring Project Procurement Activities

Instructor: Olga Bugajenko

Olga is a registered PRINCE2 Practitioner and has a master's degree in project management.

Relying on the external supplier to deliver project goods or services shouldn't mean losing control over the deliverables. Learn about the key monitoring techniques that will help you to make sure that the project procurement stays on track

What Is Project Procurement?

It is not always possible for the project team to create all project products internally - it might be lacking knowledge, time or resources. One of the solutions, of course, is to expand the team and learn how to produce a missing bit. However, it might be a lot more time and cost efficient to purchase the product from someone more experienced. The process of buying goods and services for the project externally is known as project procurement.

The procurement process usually follows the same stages as the project does: planning, executing, monitoring and closing. To ensure that the project objectives are met, it is crucial to make sure that the procurement schedule is aligned with the project plan, and that the supplier can meet the quality and cost requirements of the project. The relationship with the vendor is usually guarded by the contract and is monitored by the project manager or a dedicated procurement manager throughout the project.

Procurement Monitoring Activities

A number of tools and techniques are available to the project manager for monitoring and controlling project procurement process. These cannot be implemented in isolation and require certain inputs, usually created during the procurement planning stage. The key inputs for monitoring project procurement activities are a procurement management plan, a procurement contract, a project management plan, work performance information and performance reports and approved change requests. Any performance reports will be compared to the baseline, defined in the project management plan.

Let's take a look at some of the most common procurement monitoring and change management activities:

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