Overview
A Procurement Management Plan is a strategic document outlining how project-related purchases will be identified, acquired, and managed. It ensures a smooth procurement process, preventing delays and cost overruns.
Key Components
- Procurement Needs – List of materials, equipment, and services required.
- Vendor Selection Criteria – Quality, price, reputation, and delivery time.
- Contract Management – Terms, legal obligations, and performance monitoring.
Why It’s Important?
✔ Ensures vendors meet quality and delivery expectations.
✔ Reduces risks related to supply chain disruptions.
✔ Helps control costs and maintain project timelines.
