Plan Procurement Management:
How to determine which project needs are to be met by procurement instead of being developed by project team. Basically how to arrive at Procurement decision.
How to identify potential sellers?
How to evaluate sellers?
How to procure?
How much to procure?
How to decide when to procure?
How to determine which type of Contract to be used?
How to determine the risks in a contract?
How to manage Risks?
How to manage multiple vendors?
How to manage procurement with other aspects of Project scheduling, Project reporting etc?
How to carry out the Make or Buy decision?
Contract:
Contract can also be called an agreement/subcontract/purchase order.
Generally Contract is a legally & mutually binding between buyer and seller, which must meet the needs of the project while adhering to the organizations procurement policies.
Language describes product, svc, or results needed
Complex projects can have multiple contracts.
Various activities involved in the Project Procurement Management processes form the life cycle of a contract.
Contract or contract lifecyle can be end once it is done. And this can happen in any phase of the project.
Contract & Contract type is also a tool used to share/transfer risk between buyer and seller.
Diff between Contract and Agreement:
An agreement is an informal compromise between two or more parties, which may or may not be legally binding.
A contract is a legally-binding agreement that is entered into voluntarily by two or more parties, with the intention of creating one or more legal obligations among them.
How to determine which project needs are to be met by procurement instead of being developed by project team. Basically how to arrive at Procurement decision.
How to identify potential sellers?
How to evaluate sellers?
How to procure?
How much to procure?
How to decide when to procure?
How to determine which type of Contract to be used?
How to determine the risks in a contract?
How to manage Risks?
How to manage multiple vendors?
How to manage procurement with other aspects of Project scheduling, Project reporting etc?
How to carry out the Make or Buy decision?
Contract:
Contract can also be called an agreement/subcontract/purchase order.
Generally Contract is a legally & mutually binding between buyer and seller, which must meet the needs of the project while adhering to the organizations procurement policies.
Language describes product, svc, or results needed
Complex projects can have multiple contracts.
Various activities involved in the Project Procurement Management processes form the life cycle of a contract.
Contract or contract lifecyle can be end once it is done. And this can happen in any phase of the project.
Contract & Contract type is also a tool used to share/transfer risk between buyer and seller.
Diff between Contract and Agreement:
An agreement is an informal compromise between two or more parties, which may or may not be legally binding.
A contract is a legally-binding agreement that is entered into voluntarily by two or more parties, with the intention of creating one or more legal obligations among them.
