Project Procurement Management Overview | PMBOK Video Course

By David McLachlan on youtube.com

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In this step, you'll learn about project procurement management, which fits closer to the end of the process groups. The process involves agreements that describe the relationship between the two parties and the buyer and seller. Key concepts include the legally binding nature of a contract, the effect of culture and local law, and the availability of the seller. Trends and emerging practices include advances in tools and technology, risk management, and stakeholder relations. Tailoring considerations include complexity, physical location, and regulations."