Posts Tagged ‘ Pmbok ’

Time & Material Contracts

April 15, 2010
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Introduction These contracts are a kind of hybrid between a fixed price and the cost plus models. The model is to agree on some cost rates and use that to calculate total costs over a period such resources are used. Some legitimate expenses of material used in the contractual process are also payable. Hence...

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Source Selection

April 14, 2010
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Introduction Selecting the right source for a crucial procurement could easily make or break a project. Thus the criteria to evaluate and the evaluation process has to be very robust and be able to pick the right sources for the procurement action. There is a whole range of criteria that can be used. Quite...

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Procurement Documents

April 13, 2010
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Introduction Procurement documents are ones the buyer organization uses to solicit proposals from sellers. In a very general sense the terms bids, quotations and tenders are used when the seller is to be selected based on price mainly. These would typically apply to commercial and standard items. The term proposal is often used when...

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Procurement Statement of Work

April 13, 2010
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Introduction The statement of work is a document that defines the work to be undertaken by the seller to ensure the buyer can complete the procurement action. This being the very basis of the specific procurement action, it is essential that the document can define what is needed completely. This obviously has to be...

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Procurement Management Plan

April 12, 2010
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Introduction Procurement management plans needs to cover all the aspects of the procurement processes. The activities that start with creating the procurement documents and end in procurement closure must all be covered in the plan. The plan can be formal or informal in nature. The details included could be a lot or some broad...

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Plan Procurement – Contract Types

April 11, 2010
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Introduction A contract defines the exact way a procurement action will be carried out by defining the responsibilities of the seller as well as the buyer. There are two major types of these legally binding agreements. The first and the most used type are the fixed type contracts. The seller is bound by the...

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Make or buy Analysis and Expert Judgment

April 10, 2010
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Introduction Whether part of the project deliverables is to be created/ produced/ developed in-house, or the item could simply be bought from some agency from an external agency is a crucial decision for minimizing risks to a project’s success. The projects exact scope and the requirements for the deliverables define the project outcomes; expert...

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Inputs to procurements planning process

April 8, 2010
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Introduction There are a range of inputs you need to consider when planning procurement. These are, at a minimum, the scope baseline and the requirements document. These define the project requirements in a detailed manner. Teaming agreements, the risk register and the risk related contract decisions tend to cover your actions against risks. The...

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Plan Procurement

April 7, 2010
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Introduction Procurement needs arise from the need to rationalize what needs to be made inside the organization, by the project team, and what ought to be bought from outside the organization. The optimization of this partitioning of make versus buy of project deliverables and related products, services or result arise from the need to...

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Procurement management overview

April 6, 2010
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Introduction Project related procurement process is quite an involved one and has four distinct stages that project leaders must be familiar with. The procurement processes are about both sides of the deal. The related processes must manage the buying of items, components and possibly services from others. Similarly processes must exist in an organization...

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