Project ____________ management includes the processes of solicitation, selection, contractual agreements, and closeout processes to ensure the project has funding.
A) Cost
B) Human resource
C) Procurement
D) Quality

Question

Quizplus · Accepted Answer

Procurement management is concerned with identifying the necessary resources for a project and acquiring those resources from external sources. This includes soliciting bids from vendors, selecting the best vendor, negotiating contractual agreements, and ensuring that the vendor delivers the goods or services as promised. Procurement management also involves managing the relationship with the vendor throughout the project, as well as closing out the contract when the project is complete. Therefore, procurement management includes the processes of solicitation, selection, contractual agreements, and closeout processes to ensure the project has funding.

Project ____________ Management Includes the Processes of Solicitation, Selection, Contractual