Procurement

Philip Bauer
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Philip Bauer: Six Sigma Management Academy

Chapter 16 in A Comprehensive Project Management Guide, 2024, pp 241-246 from Springer

Abstract: Abstract Procurement management is a critical component of project management, ensuring the timely acquisition of goods, services, and resources necessary for project success. This abstract explores the fundamental principles, strategies, and challenges of procurement management within project environments, highlighting its pivotal role in optimizing project outcomes and stakeholder satisfaction. Commencing with an overview, the abstract defines procurement management as the systematic process of planning, sourcing, contracting, soliciting bids and quotes, and administering external resources and services required for project execution. It emphasizes the dynamic nature of procurement management, necessitating continuous adaptation to changing project needs, market conditions, and regulatory requirements.

Keywords: Contract approaches; Soliciting bid; Bidders (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-3-031-68252-0_16

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