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Procurement Acquisitions

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Summarize Procurement Management Project procurement management is all about the processes related to purchasing or acquiring the products, services or results needed from outside the project team. Project management, a new foundation of a successful organization, has revolutionized the way businesses operate and the realization of effective project procurement management. Through our own research and ability to adapt over time, we have learned the power of proper project management and its ability to have a positive influence on procurement and acquisitions. Like most companies, procurement and acquisitions is one of many operations and is also one of the most important due to its ability to have a direct correlation to success and/or failure. This paper is going to look at procurement management and help define its fundamentals in association to my project on development of a Spanish queue for a call center.
What exactly is Project Procurement Management? To answer this we must first go back to the principle ideological foundations of project procurement management we have learned from our earlier educational years. We understand that project procurement management is part of the project management process in which products or services are acquired or purchased from outside the existing employee base in order to complete the task or project (Farnham, 2013). Interestingly enough we learn from the beginning how there are multiple processes involved in project procurement including plan purchases and acquisitions, plan contracting, requesting seller responses, selecting sellers, contract administration and contract closure (Farnham, 2013). Projects routinely require procurements. All projects need materials, equipment, consultants, training, and many other goods and services. It is with this understanding of the project procurement phases that I believe all

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