Standardizing the Procurement Process

The ACME Development Corporation has charged me with the task of standardizing their procurement processes and practices. In order for me to accomplish this, it is imperative that all project managers understand why a standardize procurement process is an important part of the project management lifecycle and what negative impact would occur if we continue to do ‘business as usual’. Let’s start by taking a look at how procurement fits into the project management lifecycle.
As one of many subsidiary plans of the Project Management Plan, the Procurement Management Plan is the organization of processes of all purchases and acquisitions of external resources (products and/or services) which are needed to perform work and complete the project. (PMI, 2004) These processes can be separated into six different process areas: 1. Plan Purchases and Acquisitions 2. Plan Contracting 3. Request Seller Responses 4. Select Sellers 5. Contract Administration 6. Contract Closure (PMI, 2004)
Each of these processes interacts with the other Knowledge areas at various times during the lifecycle of the project. Contracts are typically drawn up to secure products and/or services that conform to and fulfill the project’s needs and are usually scrutinized by specialists in contracting, purchasing and the law. This is important as a contract is a legally binding document, so we want to be sure that the wording in that contract accurately defines how, when and what it is we are trying to acquire.

If a contract does not accurately spell out the terms of an agreement, disagreements and frustration can lead to project delays and unsatisfactory outcomes, or worse yet, law suits can plague a project. We see this all the time in the news. For example: In the small town of Adelphia, Ohio, a dispute between a sewer contractor and the city erupted when the contractor developing a sewer system for the community wanted to back out of the 1994 contract (which was for 40 years) and the community was already paying fees for the sewer system.
Long story short, the courts ended up settling the dispute and dissolved the contract due to improper legal wording in the contract, however a new agreement has since then been reached, but only at the expense of the local tax payers. (Genson, 2006) The down side to doing ‘business as usual’ can (and most likely will) lead ACME to face difficult project situations (at best), eventual project termination, or even business failure with potential jail time for mismanaged or improper business practices.
With the passing of the Sarbanes-Oxley Act of 2002, businesses across the United States (and those who do business with U. S. companies) are being held accountable for their actions. (107th Congress, 2002) This is to primarily protect investors by the improvement and accuracy of corporate disclosures as well as to make sure good ethics are being practiced. By standardizing ACME’s procurement management processes, we should be able to effectively control our project spending, identify and hopefully neutralize potential project risks, control our projects’ schedules, and ultimately finish a project with at least an expected out come or better yet, a finished project with greater quality than anticipated and less capitol expenses.

Don't use plagiarized sources. Get Your Custom Essay on
Standardizing the Procurement Process
Just from $13/Page
Order Essay
My Essay Gram
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

Live Chat+1(405) 367-3611Email