12.0 Project Procurement Management

Question 1

what is 12.0 project procurement management? (2)

Answer 1

1. processes necessary to purchase/acquire products, services, results from outside project team
2. includes management/control processes to develop and administer agreements

Question 2

what are example agreements? (4)

Answer 2

1. contracts
2. POs
3. memoranda of agreements - MOAs
4. internal service level agreements - SLAs

Question 3

what are the processes of 12.0 project procurement management?

Answer 3

12. 1 plan procurement management
13. 2 conduct procurements
14. 3 control procurements

Question 4

what are the key concepts for 12.0 project procurement management? (6)

Answer 4

1. PM should be familiar enough with process to make decisions
2. agreements can be simple or complex - procurement approach should reflect degree of complexity
3. agreements must comply with local, national and international laws
4. procurements should meet needs of project as well as ensuring organization policies are followed
5. more extensive approval process due to legally binding nature
6. complex project may involve multiple contracts simultaneously or in sequence

Question 5

what are trends and emerging practices for 12.0 project procurement management? (6)

Answer 5

1. advances in tools
2. more advanced risk management
3. changing contracting processes
4. logistics and supply chain management
5. technology and stakeholder relations
6. trial engagements

Question 6

what are tailoring considerations for 12.0 project procurement management?

Answer 6

1. complexity of procurements
2. physical location
3. governance and regulatory environment
4. availability of contractors

Question 7

what are considerations for agile/adaptive environments for 12.0 project procurement management?

Answer 7

1. collaborative working relationship between buyer and seller (share risk)
2. master service agreement (MSA) use for overall engagement - changes occur to scope without impacting overall contract