Identifying and Selecting the Procurement Plan

The Project Management Plan describes how items will be procured during the project. It also presents the approach that will be used to manage vendors on the project. You may retrieve a sample project procurement plan from any industry, such as a federal, state, or municipal entity. You are then expected to assess and evaluate it for purposes of illustrating your understanding of the procurement plan and process. The PMBOK (2017) notes six main components that make up a plan. So you may assess the plan based on the following factors or any additional ones that you find to be important:

• Procurement process
• Roles and responsibilities
• Identified procurement needs
• Timing
• Change review and approval process
• Vendor processes

Each component involves specific requirements, and it will be your responsibility to ensure that these are exhibited. If not, you must describe ways in which the plan could increase its value, hence supporting the project's success.