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Procurement management in the execution phase of a project involves the process of planning, executing, and managing the procurement of necessary resources and materials. It includes identifying potential suppliers, negotiating contracts, ordering goods or services, maintaining supplier relationships, and ensuring timely delivery of goods or services. It plays a crucial role in ensuring that the project has all the necessary resources at the right time and at the best possible cost.
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Planning Phase – this phase requires creating a task list, making a budget, developing a risk management plan, building a project schedule and assigning tasks. Execution Phase – includes task, time, cost, quality, change, procurement and resource management, collaboration, monitoring, control and reporting. Closing Phase – the last phase of the project management deals with deliverables transfer, completion confirmation, documentation review, resources release and post-mortem.
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