Project Procurement and Closure (LOs: 4g)
Introduction
The procurement process involves several stages, beginning with determining the need for procurement and continuing through selecting suppliers and managing contracts. It concludes with the proper closing of procurement contracts to ensure that all obligations have been fulfilled and documented.
Project Procurement and Closure
To achieve the objectives of the project, the management team will purchase goods and some services. The process of obtaining goods and services from providers who are outside of the organization is procurement. This chapter discusses the process for selecting the work that will be procured and the different methods and processes for procuring the equipment, materials, and services for the project.
Source: Saylor University
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