Project Procurement Management

Project Procurement Management includes the processes necessary to purchase or acquire products, services, or results needed from outside the project team. The organization can be either the buyer or seller of the products, services, or results of a project.

Project Procurement Management includes the contract management and change control processes required to develop and administer contracts or purchase orders issued by authorized project team members.

Project Procurement Management also includes administering any contract issued by an outside organization (the buyer) that is acquiring the project from the performing organization (the seller), and administering contractual obligations placed on the project team by the contract.

According to PMBOK, there are four processes in the Project Procurement Management, which are:

• Plan Procurements. The process of documenting project purchasing decisions, specifying the approach, identifying potential sellers.
• Conduct Procurements. The process of obtaining seller responses, selecting a seller, and awarding a contract.
• Administer Procurements. The process of managing procurement relationships, monitoring contract performance, and making changes and corrections as needed.
• Close Procurements. The process of completing each project procurement.

Project Quality Management

Project Quality Management includes the processes and activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken. It implements the quality management system through policy and procedures with continuous process improvement activities conducted throughout, as appropriate.

According to the PMBOK, there are three processes in the Project Quality Management, which are:

• Plan Quality. The process of identifying quality requirements and/or standards for the project and product, and documenting how the project will demonstrate compliance.
• Perform Quality Assurance. The process of auditing the quality requirements and the results from quality control measurements to ensure appropriate quality standards and operational definitions are used.
• Perform Quality Control. The process of monitoring and recording results of executing the quality activities to assess performance and recommend necessary changes.

Project Cost Management

Project Cost Management includes the processes involved in estimating, budgeting, and controlling costs so that the project can be completed within the approved budget.

According to the PMBOK, there are three processes in the Project Cost Management, which are:

• Estimate Costs. The processes of developing and approximation of the monetary resources needed to complete project activities.
• Determine Budget. The processes of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.
• Control Costs. The process of monitoring the status of the project to update the project budget and managing changes to the cost baseline.