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Close Procurements Process Guide

The Close Procurements process involves completing each procurement by documenting agreements and related documentation. It collects all procurement documents, such as contract details, quality and cost records, and files them in a records management system. This allows the procurement information to be used for lessons learned and contractor evaluations. As part of close out, the buyer provides formal notice that the contract is complete, prepares an indexed procurement file, documents deliverable acceptance, and develops lessons learned.

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Roni Komarul Hayat
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192 views7 pages

Close Procurements Process Guide

The Close Procurements process involves completing each procurement by documenting agreements and related documentation. It collects all procurement documents, such as contract details, quality and cost records, and files them in a records management system. This allows the procurement information to be used for lessons learned and contractor evaluations. As part of close out, the buyer provides formal notice that the contract is complete, prepares an indexed procurement file, documents deliverable acceptance, and develops lessons learned.

Uploaded by

Roni Komarul Hayat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd

Close Procurements

Close Procurements is the process of completing each


procurement. The key benefit of this process is that it
documents agreements and related documentation for
future reference

Over view

12.4.1 Close Procurements: Inputs


1 Project Management Plan
The project management plan contains the procurement
management plan, which provides the details and guidelines for
closing out procurements.
2 Procurement Documents
To close the contract, all procurement documentation is
collected, indexed, and filed. Information on contract schedule,
scope, quality, and cost performance along with all contract
change documentation, payment records, and inspection results
are cataloged. This information can be used for lessons learned
information and as a basis for evaluating contractors for future
contracts.

2 Close Procurements: Tools and


Techniques
1. Procurement Audits
A procurement audit is a structured review of the procurement
process originating from the Plan Procurement Management
process through Control Procurements.
2. Procurement Negotiations
In all procurement relationships, the final equitable settlement
of all outstanding issues, claims, and disputes by negotiation
is a primary goal.
3. Records Management System
A records management system is used by the project
manager to manage
contract and procurement documentation and records.

3 Close Procurements: Outputs


1. Closed Procurements
The buyer, usually through its authorized procurement
administrator, provides the seller with formal written
notice that the contract has been completed.
Requirements for formal procurement closure are
usually defined in the terms and conditions of the
contract and are included in the procurement
management plan.

3 Close Procurements: Outputs


1. Procurement file.
A complete set of indexed contract documentation, including
the closed contract, is prepared for inclusion with the final
project files.
2. Deliverable acceptance.
Documentation of formal acceptance of seller-provided
deliverables may be required to be retained by the
organization. The Close Procurement process ensures this
documentation requirement is satisfied.
3. Lessons learned documentation.
Lessons learned, what has been experienced, and process
improvement recommendations, should be developed for the
project file to improve future procurements.

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