Project management is the process of managing a project from its inception to the time it concludes with positive or negative results. The aim of a project management process is to make sure the requirements of the project are met adequately, and the final project is satisfying the needs of the organization developing the project. For small firms in different industries, handling a large project can be extremely difficult, especially if the project is of an industry the company has never handled before. In situations like this, it is a common practice to outsource the work of project management to other companies that can satisfy the need of the project management process.In order to ensure purchase decision has been given to the right candidate and to the right firm is absolutely necessary. This is why a purchase process should have a procurement procedure. The paper presented aims to perform procurement process for a company to help make it decide how to make a purchasing decision.
What is a Procurement Plan?
A basic approach of procurement plan is to determine and decide the services and products that are needed to be procured by a business organization from other suppliers. A well-designed and more efficient procurement plan does a lot more than just identify the products and services needed, but also identifies the various processes associated with the process of purchasing. The steps associated with the procurement plan remain the same whether it is a procurement of a whole project or a simple structural procurement practice. The first step in the plan is to determine the items the organization needs to procure. The second step in the procurement plan is to determine the process of procuring the items, and finally in the last step, performing a schedule for delivery timeframe.