The Principles Behind Procurement Management

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The Principles Behind Procurement Management:


Procurement Management administers communications between the buyer and the seller. The hiring of services, products and other required resources is handled by the project team. A Procurement Management Plan is a set of fundamental guidelines that the organization expects to be followed while making purchases. Any purchases made without planning can lead to wasted resources such as time and expense. In addition to procurement management, urgent situations and contingency plans are also considered. Each organization uses its own set of rules for procurement management. The project manager should take the lead in following these rules.

He or she should consider the following while procuring products and services for the project:

 

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