Procurement can be one of the most challenging roads that the project manager must travel. The legal implications, documentation, and vendor and supplier management responsibilities can introduce speed bumps that can have a significant impact on project success. We know, because we've been there. In short, project procurement can make or break a project. In that … [Read more...]
Due to expertise or resource constraints, many projects require external resources to complete their work. These resources can come from either the project's parent organization or from external sources. But regardless of how they are obtained, project procurement is one of the most exciting areas of project management but also results in the biggest headeaches for the … [Read more...]
A Statement of Work (SOW) is a project management document which describes the work that is required of an external contractor, vendor, or supplier. It can either be included within the contract documents or simply be a reference for the project management team. Also called Terms of Reference, the more generic Statement of Work is used by the Project Management Body of … [Read more...]
The Terms of Reference (TOR) is a description of the technical work involved in a project, or part of a project. Specifically, it is used to specify the work required by an external consultant, contractor, or supplier. It is the technical part of the bidding documents. Typically, a project manager develops a Terms of Reference which is included within the … [Read more...]
A procurement management plan documents how a project will conduct its procurement (purchasing). In the Project Management Body of Knowledge (PMBOK Guide), it is the component of the overall Project Management Plan that deals with external purchasing for the project. It is separate from the statement of work (SOW), also known as the terms of reference (TOR) which … [Read more...]
