7/25/2019 Procurement Management Knowledge Area Processes Flow

1/2

Procurement Management Knowledge Area Processes Flow

Project Procurement Management Knowledge Area has 4 processes. Find below the Process Flow diagram of all these 4 processes together.If you require a PF with all the !" Knowledge Area process flow diagrams.

Procurement Management knowledgearea has four processes. One each in Planning, Executing, Monitoring and Controlling and Closing a Project or

Phase. Procurement Management is a dry subject for most participants since Procurement Management is most likely to be handled by some oneelse other than the Project Manager.

he following table shows the purpose and key benefit of each of these processes, pro!ided by the PM"O#$%&.

Plan Procurement Management Knowledge Area Procurement Process Group Planning

Purposehe process of documenting project procurementdecisions, specifying the approach, and identifying potentialsellers.

Key Benefit't determines whether to ac(uire outside support and if so how to ac(uire it, how much is needed and when toac(uire it.

Conduct Procurements Knowledge Area Procurement Process Group Executing

Purpose he process of obtaining seller responses, selecting a seller, and awarding a contract.Key Benefit 't pro!ides the alignment of internal and externalstakeholder expectations through established agreements.

Control Procurements Knowledge Area Procurement Process Group Monitoring and Controlling

Purposehe process of managing procurement relationships, monitoring contract performance and making changesandcorrections as appropriate.

Key Benefit't ensures that both the )eller*s and "uyer*s performance meets procurement re(uirements according to theterms of the legal agreement.

Close Procurements Knowledge Area Procurement Process Group Closing

Purpose he process of completing each project procurement.

Key Benefit 't documents agreements and related documentation for future reference.

+or the PMP Exam preparation, 'f you can !isualie the processes within a knowledge area together, it offers lot of ad!antages- ou will remember the se(uence

ou will !isualie the inter/dependencies among the processes

ou will (uickly obser!e the similarities in 'nputs and Outputs and how they are related

+ind below the image that has Process +low diagramfor Project Procurement Management Knowledge Area.

http://www.pmi.org/http://www.pmi.org/

7/25/2019 Procurement Management Knowledge Area Processes Flow

2/2