Project Procurement Management in PMP

Project Procurement Management in PMP consists of:

• Plan Purchase and Acquisitions
  Determining what to purchase or acquire and determining when and how.
  
  
• Plan Contracting
  Documenting products, services and results requirements and identifying potential sellers.
  
  
• Request Seller Response
  obtaining among potential sellers and negotiating a written contract with each sellers.
  
  
• Contract Administration
  Managing the contract and relationship between the buyer and seller.  Reviewing and documenting how a seller is performing.  Managing contract related changes.
  
  
• Contract Closure
  Completing and setting each contract, including the resolution of any open items and closing each contract applicable to the project or project phases.