In the Procurement Management knowledge area, there is one process under the Execution Process Group, it is called Conduct Procurements. Below is the PG-KA mapping,
As the name suggests, Conduct Procurements is the process when you would do the actual work of procuring for your project. This involves,
- obtaining seller responses
- selecting a seller
- and awarding a contract
A good question to ask here would be – how to select a seller? This is where Source Selection Criteria comes in handy.
Actually, Source Selection Criteria, isn’t the only output of Plan Procurement Management process that is required at this point, others like Make or Buy Decisions, Procurement Statement of Work (SOW) and Procurement Documents are required too. If you are wondering how they will be used, here’s how,
Make or Buy Decisions tells you what exactly do you want to contract out and what you are going to do in-house
Procurement Documents like RFI and RFP are sent to the potential sellers to gather information about their capability to do the work and how they would do it respectively
Source Selection Criteria ensures that you evaluate all the sellers with the same criteria maintaining fairness
Procurement Statement of Work (SOW) is where the scope of the work to be accomplished by the seller is documented
If you haven’t guessed yet, these are amongst the most important inputs of the Conduct Procurements process. Can you guess other inputs for this process?
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