Conduct procurements

Remember that procurement activity may be performed throughout a project, especially a long-term project with multiple procurement needs for materials, equipment, or staff. Week 1 you need widgets; week 15 you need the staff to join the project; and so on. The conduct procurements process is designed to help you and your team obtain bids or responses from sellers based on your procurement SOW and implied project needs, vet those responses, select sellers, and award a contract. A key benefit of this is that a seller is selected for a specific scope of work and will go through the negotiation process with the contract administrator, and be offered the stated agreements that best fit both parties. That could be a formal contract, or an SLA and the like. Because this process is iterative, as needed, you'll see a lot of inputs and outputs to consider. Don't be overwhelmed by them; it is simply a cautionary list that when entering into formal legal agreements...