Procurement management plan for X Price Day Club project

Project Management: Procurement Management

Plan Procurements Management

All aspects of the procurement management plan will be handled in accordance to the communications matrix, and the various methods for communicating indicated in the Communications Methods and Technologies section of the Unit 1 X Price Day Club Project Initiation. As it pertains to Procurement Management aspect, the Project Management Book of Knowledge outlines a four step process for ensuring proper facilitation of the procurement management phase of a project. The first step, Plan Procurements Management, involves "documenting ... procurement decisions, specifying the approach, and identifying the potential sellers" (YOUR SCREENSHOT). As such, the initial step denoted herein (of creating a prioritization of the factors necessary for selecting sellers of the various materials required to complete this project) will initially be handled with an action item about this facet of the project in one of the meetings referred to in the Guidelines for Meetings section of the Unit 1 X Price Day Club Project Initiation document.

Conduct Procurements

This aspect of the procurement management process will involve actually communicating with potential vendors based on the information determined from the results of the action items discussed in the aforementioned meetings. What is crucial about this aspect of the process is that such communication should be readily documented and recorded via the technologies outlined in the communications process of the Space X project. It is pivotal that all relevant parties see the responses of the potential merchants; it will be prudent to select the most viable one at another meeting such as the one discussed above. Based on that meeting and the information obtained about the viability of the sellers, it is then necessary to choose particular sellers and offer them contracts. Again, the process of drawing up contracts should also involve meetings and the electronic communication that typifies the entire project's management.

Close Procurements

Closing the procurements actually begins with the aforementioned controls: the monitoring of contractors, communication of the information gained by such monitoring throughout the project, and taking action to ensure that contractors stay on schedule. Finishing these procurements will culminate in a visual inspection on the part of project managers of the specific procurements that contractors have been tasked with. Doing so will involve actually confirming whether or not these contracts are worthy of the remainders of their payments. Additionally, it will also entail attending to any details that have not been completed, and determining what courses of action are necessary to maintain or adjust the project's schedule according to the current state of the contractor's work. The final part of closing the procurements will require completing payment to the contractors.