PMP Certification Training - Overview of Project Procurement Management and Processes

Project procurement management involves processes to acquire necessary products or services from outside the project team. It includes negotiating and managing contracts, understanding legal obligations, and handling agreements between buyers and sellers. Key processes include planning procurement management, conducting procurements, and controlling procurements. Contracts must clearly state deliverables and terms, and organizations should have defined procurement policies.

What is the primary role of a project manager in procurement management?

• To be a legal expert in procurement laws

• To make informed decisions regarding contracts

• To avoid any involvement in procurement processes

• To negotiate all contracts personally

Which of the following is NOT a form of agreement in project procurement?

• Project charter

• Verbal agreement

• Memorandum of understanding

• Contract

What must a contract clearly state to be enforceable?

• The project's budget

• The buyer's preferences

• The seller's past performance

• The deliverables and results expected

Which process involves selecting a seller and awarding a contract?

• Plan procurement management

• Conduct procurements

• Control procurements

• Close procurements

What is the focus of the 'Control procurements' process?

• Awarding contracts

• Managing procurement relationships and monitoring contract performance

• Identifying potential sellers

• Documenting procurement decisions