October 2014
Intermediate to advanced
247 pages
5h 3m
English
Content preview from Project Management Maturity Model, 3rd Edition
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137
Chapter 11
Procurement and
Vendor Management
Procurement and vendor management constitute the processes
and actions undertaken by a project manager and/or project
team to acquire goods and services in support of a project.
They also include the activities involved in managing contracts
throughout the period of performance and closing contracts
upon completion.
Procurement management involves planning for all pur-
chases, acquisitions, and contracting. All the processes and
actions of procurement planning must conform to the con-
straints of the overall organizational structure and policies.
Generally, the process involves contracting with ou
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