Project Procurement Management

Project Procurement Management is the process of acquiring goods and services needed to complete a project. It involves identifying what you need, selecting the right vendors or suppliers, negotiating contracts, and ensuring that what you purchase meets the project's requirements and is delivered on time and within budget. This management area helps to ensure that resources are acquired efficiently, risks are minimized, and the project's overall success is supported by having the necessary inputs from external sources. Essentially, it organizes how an organization purchases everything it requires for its project.