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Project procurement management processes
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Procurement Specifications:
The procurement process usually requires crucial planning based on the complexity and size of the specific procurement. The process involves generating and reviewing requirements and specifications for procurement. Generating and reviewing these requirements and specifications is geared towards ensuring effective planning. The most appropriate process for generating and reviewing procurement specifications would include defining the outcome, defining specifications, identifying risks, researching the procurement market, and preparing a business case (“Guidance on the Mandatory Procurement Procedures”, 2005).
Defining the outcome is the first important step in generating and reviewing procurement requirements and specifications because it provides clear and precise description of what needs to be satisfied by the procurement and how it will be satisfied. The description of the outcome in turn helps in identifying the required product or service, the necessary quantities, and the delivery of the product or service. This is followed by defining specifi...
Based on the textbook and my understanding, whenever there are negotiations between a procurer and a supplier regarding a competitive bidding, the first thing that might be favored is the scope of the project, meaning both will sit down and discuss the entire project prior the work begins. Meanwhile, during the negotiations, evaluation criteria should be clear, and stated and defined. As the evaluation is based on the criteria stated and the procurer can request or ask the supplier’s opinions on certain specifications and where things can be improved.
Total Quality Logistics (TQL), a freight brokerage company based in Milford, Ohio, has grown immensely since inception in June of 2005. With employee growth of 174% in just 9 years and an 191% increase in revenues, TQL needs to implement a plan that can help the company manage its employees while maintaining its reputable quality of service and revenue.
outcome is that it is sensitive to what the client anticipates that they need and it allows for a
...arations needed during implementation of the project while the final phase is meant for overall evaluation.
Planning Product/Outcome Specifications I have done a significant amount of research about eco-friendly architecture and from that research, I have designed an eco-friendly house in Autodesk Inventor (an engineering program on the computer). The house I have designed includes all the most of the aspects an eco-friendly house would need including solar panels, a turbine, underfloor heating, and loft insulation. Since my final product is not only a product but also an outcome, there are criteria for the product but also areas that must be met in order for me to have successfully achieved my goal. In order to be successful, my product/ outcome will show: A house that I will design with all criteria discussed in Appendix A URL’s and pictures of
As a project manager, one must understand the procurement concepts, regardless of whether you are a buyer or a seller. Needless to say, procurement management helps identify a suitable supplier or contractor to procure goods or services. In most cases, a procurement contract is created. A procurement contract is an agreement in which the buyer agrees to acquire goods or services from a seller in exchange for consideration. A contract is a legally binding agreement between two or more parties. Usually, one party is known as a buyer and the other as the seller. This binding agreement is the key to the buyer and seller relationship and this provides the framework for how they will transact with each other. These contracts are mostly
For firms who are purchasing semi finished goods from outside supplier will make a contract for a long period and due to repeated relationship the fir...
Explain the importance of defining the objectives, scope and success criteria of the decisions to be taken
This chapter details the information regarding sourcing process. The detailed information about sourcing process, different types of souring methods and the factors affecting sourcing also discussed. Along with this information, the vendor management and evaluation methods also described for the better understanding of the sourcing process.
The vendors will outline how the work will be accomplished, who will perform the work, and vendors experience in providing the service. Additionally, the vendors will be required to submit work breakdown structures (WBSs) as the hierarchy structure below and work schedules to show their understanding of the work to be performed and their ability to meet the project schedule. There are constraints to be included in the RFP and communicated to all vendors in order to determine their ability to operate within these constraints. The project schedule is not flexible and the contractor must complete the service within the established project schedule of 1 year. The contractor must support the approved project scope statement.
Purchasing process is the process of buying the right material, at the right quantity, at the right moment, at the right price and from the right supplier ( Heinritz et al, 1986). It can also be defined as the way an organisation behaves towards it suppliers, as suppliers are the pillar of strength for all organisations at large. According to We...
According toMusau (2015), procurement performance entails how well organizational procurement objectives have been attained. The extent to which procurement function is able toobtain best value for spent organizational money to purchase products and services is the best indicator of procurement performance. Procurement performance entails two major aspects that is;efficiencyandeffectiveness. Effectiveness in procurementis essentially the extent to which previously stated firm purchasing goals and objectives have been met, on the other hand, procurement efficiency is the associationthat exists between planned and actual required resources needed to realize formulated goals and objectives as well as their related activities.Effectiveness in procurement
In general, there are different types of procurement type for various situations due to no one method can be suitable under the all different construction project. In this case, there are four procurement paths, which are traditional, design and build, management and design and manage, will be advised to use. However, each method has different aspects of advantages and disadvantages.
...e steps that are required to be addressed while coming to deal with vendors. The Proposed idea, looks satisfactory in meeting the outcomes. One thing that should be ensured is that they should incorporate the clauses pertaining to risk in the plan.
Strategic management is the “identification of one or more sustainable competitive advantages a firm has in the markets it serves (or intends to serve), and allocation of resources to exploit them” (Business Dictionary, 2016). In order for industries and organizations to thrive, they must have strategies in place and strategic management processes to stay competitive, profitable, attractive to stakeholders, and to sustain advantages that set them apart from other competitors (Barney & Hesterly, 2015). The strategic management process involves a set of procedures that lead to choosing a strategy that will eventually lead to competitive advantage (Barney & Hesterly, 2015). The six steps of the strategic management process involves defining