25.3 Project Procurement Management

	Procurement is mainly concerned in the preparation, processing of a demand, the end receipt and the approval of the payment.
	Procurement management typically involves the following processes:

Planning Purchases and Acquisitions: this process involves determining what to purchase as well as when and how.

This process is part of the Planning process group.

Planning Contracting: this process mainly involves the generation of procurement documents and initiating the bidder selection process (establishing the evaluation criteria).

This process is part of the Planning process group.

Requesting Seller Responses: this process involves deciding upon whom to ask to do the work, sending appropriate documentation to potential sellers and obtaining information, proposals or bids from prospective sellers.

This process is part of the Executing process group.

25.3 Project Procurement Management

Selecting Sellers: this process involves reviewing all offers, receiving bids or proposals, applying evaluation criteria, choosing between potential sellers and negotiation written contract with each seller.

This process is part of the Executing process group.

Administrating the Contract: this process involves maintaining the procurement relationship with the chosen seller, monitoring contract performance and managing the changes and corrections needed to ensure compliance.

This process is part of the Monitoring and Controlling process group.

Closing the Contract: this process involves completing each project procurement transaction and the contract services at the end of the project.

This process is part of the Closing process group.

25.3 Project Procurement Management