Introducing Project Procurement Management - Completing Procurement Purchasing
11 important questions on Introducing Project Procurement Management - Completing Procurement Purchasing
What are the inputs for the process of conducting procurement?
- Procurement Management Plan
- Procurement documents
- Source selection criteria
- Proposals from sellers
- Project documentation
- Outcomes of make-or-buy decisions
- Statement of work
- Organizational Process Assets
What sources could identify which sellers might qualify for the proposed work?
- Qualified seller lists
- Other resources like internet resources, industry directories, trade associations etc.
What three primary tools are needed for the requesting seller responses process (= which is the process of inviting sellers to acquire the business of the performing organization)?
- Bidder conferences
- Advertising
- Developing a qualified seller list
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What is the difference between a bid/ quote and proposals?
What is the end result of contracting?
What would be the next step after contracting?
What other factors than price might be taken into consideration when the seller is being selected.
- The true cost if the item cannot be delivered
- The technical approach to deliver the product/ service (on top of the commercial offer)
- If multiple vendors are in the game, a balance of costs, risk and opportunity is sought.
What are the three inputs for the source selection decision making process?
- Proposals
- Evaluation Criteria - developed in contracting planning and applied in source selection
- Organizational Policies - e.g. procurement policies
Which tools and techniques can the project manager use to make a final selection of a seller (when there are multiple sellers)
- Weighting System - to have an unbiased system to identify the best offer
- Independent Estimates - Compare sellers estimates with these
- Screening System - hard screening criteria
- Contract Negotiation
- Seller Rating Systems
- Expert Judgment -
- Proposal Evaluation Techniques -
What is a letter of intent?
What are the characteristics of a contract?
- A legally binding agreement between a buyer and seller in which the seller provided the described service and the seller pays for the product
- They have to be signed by a person with the power to authorize the requirements and payments specified in the contract.
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