Trends and emerging best practices in project procurement management
Many significant trends are happening due to the influx of software programs and other technologies, as well as potential risks to either the buyer or seller—or both—and how different industries benefit from different contractual relationships.
The main trends include the following:
- Advances in tools and software
- More advanced risk management, in which the buyer will need to take on risks that contractors can't handle or have control over
- Changing practices in contracts, to include megaprojects and standardized international contracts with multiple contractors from different countries
- Logistics and supply chain management
- Technology and stakeholder relations
- Trial engagements before a long-term contract is signed
How your organization manages procurements will also drive which of these trends apply to both your industry and your project needs. In an Agile environment...
