7 Proven Steps for Developing a Successful Procurement Management Plan

A procurement management plan is essential for keeping project planning on track and on budget

Here are seven proven steps for developing a procurement management plan:

Step 1. Clearly identify roles and responsibilities

Step 2. Make a schedule for operations

Step 3. Identify and limit the risk

Step 4. Determine the expense involved

Step 5. Establish criteria and workflow

Step 6. Set up vendor management

Step 7. Processes of review and additional approval