Project Management Maturity Model, 3rd Edition

Procurement and Vendor Management ◾ 147

is incorporated to expedite procurement planning and reduce

inventory carrying costs.

Procurement Requisition and Solicitation

The organization has preferred contract vehicles and a list

ofpreferred vendors that can respond to the requisition

process expeditiously. Solicitation/source selection is evaluated

on a periodic basis and enhancements to the process are

continuously incorporated. Contractors are evaluated based

upon effectiveness and efciency metrics with regard to

projectperformance.

The project manager and team evaluate vendors at the

endof the project to determine effectiveness, efciency,

responsiveness, timeliness, and quality of products or services.

The results of these evaluations are ...