MyMG Team | Your Guide to Project Management Best Practices - Part 32

Your Guide to Project Management Best Practices

Author: MyMG Team

project procurement management process

Project Implementation Guide

Project Procurement Management: 5 Steps of the Process

Managing project procurements and acquisitions requires the project manager to efficiently collaborate with the purchasing department on the process of planning and managing procurements. Project procurement management is a section of the implementation plan to determine how “the ordered products necessary for producing deliverables can be delivered on time and within the allocated budget”. Note that the “Procurement Management” section of the implementation plan will be necessary only for projects that have to deal with substantial buy-in of expertise or capital items. For any other projects where there is no high level of procurement expenditure it is enough to include a procurement item list and a vendors list in the project implementation plan

business risk mitigation

Business & Finance

Business Risk Mitigation, or How Good Leaders Respond to Business Crisis Situations

Business risk mitigation is one of the most prioritized tasks of good leaders and managers who tend towards reaching the best management practices. While an ability to efficiently respond to business crisis situations is critical for planning the mitigation of business risks and uncertainties, there are other driving forces that should be taken into account by crisis managers and executives when developing a business risk mitigation strategy.