ITM 750 Lecture Notes - Lecture 12: Project Plan, Project Manager, Project Management

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 750
• Professor: Bharat Shah

Document Summary

Procurement acquiring goods and services from an outside source. Organizations or individuals who provide procurement services are referred to as: suppliers most widely used term, vendors, contractors, subcontractors, sellers. Many it departments in organizations are in direct competition with outside vendors, and subject to eh same kind of requirements definition, statements of work, and bid. Contract a mutually binding agreement that obligates the seller to provide specified products or services and obligates the buyer to pay for them. Contract can be used to clarify responsibilities and sharpen focus on key deliverables of a project; therefore more accountability involved. Procurement should be tailored to needs of the project and organization. Project procurement management includes the processes required to acquire goods and services for a project from outside the performing organization: organization can be buyer or seller of products or services under contract.