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12 - PROJECT PROCUREMENT MANAGEMENT

12.1.2.4 Meetings

Research alone may not provide specific information to formulate a procurement strategy without additional
information interchange meetings with potential bidders. By collaborating with potential bidders, the organization
purchasing the material or service may benefit while the supplier can influence a mutually beneficial approach or
product.

12.1.3 Plan Procurement Management: outputs

12.1.3.1 Procurement Management Plan

The procurement management plan is a component of the project management plan that describes how a project
team will acquire goods and services from outside the performing organization. It describes how the procurement
processes will be managed from developing procurement documents through contract closure. The procurement
management plan can include guidance for:

• Types of contracts to be used;
• Risk management issues;

• Whether independent estimates will be used and whether they are needed as evaluation criteria;
• Those actions the project management team can take unilaterally, if the performing organization has a
prescribed procurement, contracting, or purchasing department;
• Standardized procurement documents, if needed;

• Managing multiple suppliers;
• Coordinating procurement with other project aspects, such as scheduling and performance reporting;

• Any constraints and assumptions that could affect planned procurements;
• Handling the long lead times to purchase certain items from sellers and coordinating the extra time
needed to procure these items with the development of the project schedule;
• Handling the make-or-buy decisions and linking them into the Estimate Activity Resources and Develop
Schedule processes;

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