From the course: Project Management Foundations: Procurement
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Study best practices
From the course: Project Management Foundations: Procurement
Study best practices
If you do what you've always done, you'll get what you've always gotten. That might be fine if you're happy with what you've always gotten and nothing changes. But ask yourself, how likely is that? This is why you have to study procurement management best practices, along with lessons learned from previous projects, and take into account the realities of your current situation. So let's discuss some of the best practices you should be aware of. For starters, it's important for you to get involved with the contracting process as early in the project life cycle as possible. There are many benefits for doing this. They include: You'll be able to work with your procurement team to develop optimal contracts. You can ensure the requirements and constraints are realistic. For example, are the proposed schedule and budget reasonable? You can evaluate proposals and provide feedback, and you can analyze risk to see if they might interfere with project success. You'll also want to keep your…
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