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12 - PROJECT PROCUREMENT MANAGEMENT
12.4.2.3 records Management System
Described in Section 12.3.2.7. A records management system is used by the project manager to manage
contract and procurement documentation and records. Contract documents and correspondence are archived
through the records management system as part of the Close Procurements process.
12.4.3 close Procurements: outputs
12.4.3.1 closed Procurements
The buyer, usually through its authorized procurement administrator, provides the seller with formal written
notice that the contract has been completed. Requirements for formal procurement closure are usually defined in
the terms and conditions of the contract and are included in the procurement management plan.
12.4.3.2 organizational Process Assets updates
Elements of the organizational process assets that may be updated include, but are not limited to:
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• Procurement file. A complete set of indexed contract documentation, including the closed contract, is
prepared for inclusion with the final project files.
• deliverable acceptance. Documentation of formal acceptance of seller-provided deliverables may be
required to be retained by the organization. The Close Procurement process ensures this documentation
requirement is satisfied. Requirements for formal deliverable acceptance and how to address
nonconforming deliverables are usually defined in the agreement.
• Lessons learned documentation. Lessons learned, what has been experienced, and process
improvement recommendations, should be developed for the project file to improve future procurements.
®
©2013 Project Management Institute. A Guide to the Project Management Body of Knowledge (PMBOK Guide) – Fifth Edition 389
Licensed To: Jorge Diego Fuentes Sanchez PMI MemberID: 2399412
This copy is a PMI Member benefit, not for distribution, sale, or reproduction.
