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r we L v e Procurement

Management

AnswerThe following actions and outputs are the ones you should give the most attention to
when preparing for the exam.

PlanProcurement Conduct Control


Management Procurements Procurements
KeyActions
• Perform make-or-buy ' • Find potential sellers • Understand the legal
analysis. through advertising, a implications of your
• Create a procurement preapproved seller list, actions.
management plan. or other means. • Hold procurement
• Create a procur ement • Send procurement performance reviews.
strategy for each documents. • Request changes.
procurement • Hold a bidder • Administer claims.
• Create a procurement conference.
• Manage interfaces
statement of work for • Answer sellers' among sellers.
each procurement. questions.
• Monitor, analyze, and
• Select the appropriate • Receive the seller report on performance
contract type. responses. against the contract.
• Create terms and • Compare the proposals • Review cost submittals,
conditions, including to the source selection and make payments.
standard and special criteria using a
• Perform inspections
conditions. weighting or screening
and audits.
• Create bid documents. system to pick/ shortlist
the sellers. • Maintain records of
• Determine source everything.
selection criteria. • Receive presentations
from seller(s). • Manage relationships.
• Gather and analyze data • Accept verified
on prospective sellers, • Compareto
independent estimates. deliverables.
the market, and market
• Hold negotiations. • Perform procurement
price.
audits.
• Estimate time and cost • Use interpersonal and
for contract and work. team skills, such as • Negotiate settlements.
negotiation. • Create lessons learned.
• Allocate risk to sellers • Complete final contract
when appropriate. performance reporting.
• Validate the product.
• Issue formal acceptance.
• Update records.
• Create a procurement
file.
• Perform financial
closure.

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Procurement
Management
r wELv e

PlanProcurement Conduct Control


Management Procurements Procurements
KeyOutputs
• Make-or-buy decisions • Selected sellers • Substantial completion
of contract requirements
• Procurement • Signed contracts
and deliverables
management plan • Resource calendars
• Work performance
• Procurement • Change requests information
sta~ements of work
• Project management
• Procurement strategies • Change requests
plan updates
• Bid documents • Project management
• Project documents
plan updates
• Selected contract typ·e updates
• Project documents
• Source selection criteria • Recommendations and
updates (including
• Change requests updates to the processes
updates to procurement
and procedures for
• Independent contract documents)
organizational
estimates • Organizational process
procurement practices
assets updates
• Organizational process
assets updates • Formal acceptance
• Closed procurements
• Lessons learned and
records updates

Exercise
Here is another exercise to review what we discussed in this chapter. To pass the
exam, you must understand the project manager's role in procurements. After reading this chapter,
how would you describe the project manager's role?

556
© 2018RMCPublications,
Inc.™
• 952.846.4484
• info@rmcls.com
• www.rmcis.com
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