Project procurement management

Procurement is the process of purchasing goods or services, usually in reference to business

spending. Procurement means acquiring goods and services from an outside source.
Procurement management is a term that describes the process of managing and optimizing a
project’s budget as it applies to the goods, services, and resources you’ll need to complete your
project.

Important of procurement
Procurement is important to project managers because -
-it ensures that the right equipment and materials are purchased for a project, at the right price.
-procurement can help to ensure that project are completed on schedule and within budget.
-Procurement can also be a critical part of ensuring that the quality of a project is high.
-Procurement is an essential part of any project. Without a clear plan for acquiring the necessary
resources, your project will likely fail. Procurement can help you avoid costly mistakes and
ensure that you receive the correct items or services at the right price.