Four Processes of Project Procurement

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ASSIGNMENT #1: Four Processes of Project Procurement By Serge Kernisan PMAN 641 – Project Procurement Management Professor William Anderson University of Maryland University College March 2, 2014 Table of Contents Introduction 3 Processes of Project Procurement Used For the Project 3 Conclusions 7 References 9 ASSIGNMENT #1: Four Processes of Project Procurement Project Procurement Management is the processes necessary to purchase or acquire products, services, or results needed from an outside project team in order to complete a project. (Project Management Institute [PMI], 2008) The four processes of the procurement process are as follows: 1) Plan Procurements – Process of documenting purchasing decisions, specifying the approach, and identifying potential sellers. 2) Conduct Procurements – Process of obtaining responses from the seller, selecting a seller to provide services, and awarding a contract. 3) Administer Procurements – Process of managing the procurement relationships, monitoring performance of the contract, and making changes and corrections where needed. 4) Close Procurements – Process of completing the project procurement. (Project Management Institute [PMI], 2008) My paper will discuss how each of these processes were used on a project I managed a few years ago which required the collection, processing, review, and production of electronic and hard copy paper data to the FTC to satisfy a second request for documents in regards to a merger our client was seeking. Processes of Project Procurement Used For the Project In the Plan Procurements stage we were tasked with choosing and working with a third party eDiscovery vendor to aid us in the collection, processing, review, and production of over 30TB of electronic data as well as hundreds of

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