Please reply to both POST1: and POST2: in at least 200 words each

Original Post:

1. How and why does procurement contribute to the success of a project or project-based organization?
2. What are some procurement-related factors that support project success?
3. What are some procurement-related factors that lead to project failure?

POST1:

Procurement

According to Baily, Framer, Crocker, Jessop, & Jones (2015),“procurement is the acquisition and purchase of goods and services”(p.1). Procurement is an essential function of any project. As such,project managers must be able to manage their project procurement. ThePMI (2017) states that “Project Procurement Management includes theprocesses necessary to purchase or acquire products, services, orresults needed from outside the project team” (p. 495). Without properprocurement management, project managers may find that their projectsare hindered by a lack of materials and/or services.

Procurement-Related Factors that Support Project Success

Numerous procurement-related factors support project success. These factors include the following:

• A clear understanding of project goals and challenges
• Focusing on all applicable factors when selecting products and/or services
• Effectively sourcing and selection of vendors (Lindstrom, 2014)

Procurement-Related Factors that Lead to Project Failure

Many procurement-related factors may lead to project failures. These factors include:

• Failure to understand, recognize, and plan for project goals and challenges
• Focusing product and/or service selection solely on cost and/or short-term solutions
• Failure to properly source and select vendors (Lindstrom, 2014)

References

Baily, P., Farmer, D., Crocker, B., Jessop, D., & Jones, D. (2015). Procurement, principles, & management (11th ed.). United Kingdom: Pearson (Intl) Inc. Hardback ISBN: 978111813009

Lindstrom, D. L. (2014). Procurement project management success: Achieving a higher level of effectiveness. J. Ross Publishing.

Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI Publications

POST2:

The function of procurement management is just as important to aproject, like any other part of project execution. Procurementmanagement is the process of obtaining services, products or resultsfrom outside the formal project team (PMI, 2017). This process involvesdetermining project requirements, researching different vendors and theproducts they supply, along with gathering information, quotes, andproposals from suppliers to determine which vendor will best meet theproject requirements. Research by Depaoli, Sorrentino, & De (2013)states that procurement management is one the most critical areas inproject management due to the wide scope of elements, such as planning,organization, leading, communicating, staffing and controlling.

When an organization does not have a defined procurement planmanagement or does not follow strategies for success, their projectsultimately suffer from budget overruns, inferior products or services,and difficult vendor relationships. A well-defined plan by theorganization will lead to successful overall projects in factors likecost, time and quality. An organization that uses a well-definedprocurement management plan will have more success with projectexecution.

Depaoli, Paolo & Sorrentino, Maddalena & De Marco, Marco.(2013). Depaoli, P. Sorrentino M., De Marco M.(2013), “Publicness andorganizational theory Building: opening the black box” in Atti delConvegno del Bicentenario AIDEA, Lecce 19-21 Settembre.

Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI Publications.