What Is Project Procurement?

Project procurement refers to the process of obtaining goods and services (collectively products) from outside the project organization. It involves buyers and sellers each having their own purpose and interacting in an established market. The seller is called a contractor, contractor, and often a supplier here. Contractors / sellers generally manage the work they perform to provide goods or services as a project.

Project procurement

Generally speaking, the project procurement process should follow the following four principles:

(1) Cost-effectiveness principle. Pay attention to economy and efficiency when purchasing, and strive to do the most with the least money.

(2) Quality principle. The products purchased should be of good quality and meet the requirements of the project.

(3) Time principle. The purchased products should arrive in time, and the procurement time should be adapted to the progress of the entire project.

(4) The principle of fairness. Equal opportunities should be given to qualified contractors.