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Project Procurement: A Real-World Guide for Procurement Skills by Ajay Bhargove

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CHAPTER

1

Introduction

If you are a beginner in supply chain management or buying, then you will find this chapter an important building block for understanding the rest of the chapters of this book; experienced procurement professionals will find this chapter to be a refresher of knowledge previously gained.

This chapter covers the following topics:

  • Definitions
  • Project Stages
  • Procurement Life Cycle and Importance in Project Management
  • Types of Procurement
  • Budgets and Reserves

1.1 Definitions

It is important to begin with an understanding of the terms related to buying. Reading these terms carefully will go a long way in any attempt at making a career in buying, from junior buyer up to supply chain head of organizations, so let us have ...

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