Mastering Risk and Procurement in Project Management: A Guide to Planning, Controlling, and Resolving Unexpected Problems

Introduction

Manufacturing, distribution, sales, and service organizations have one thing in common: the requirement of resources. An organization’s success, in many cases, is a direct function of how it obtains and manages resources to carry out its strategic business objectives. The organization’s first and most important task is to obtain management personnel who are skilled and experienced in acquiring and managing resources, which may include:

• Human resources

• Materials and supplies

• Equipment and facilities

• Transportation

• Finances

• Intellectual property

In the process of obtaining resources within all organizations, either for daily operations or for special projects, there are two givens: Resources must be obtained, and they have ...