Project Procurement Management

Increased complexity, uncertainty and time pressure in construction projects have increased the need of collaboration and coordination among different project actors. Establishing an appropriate procurement strategy and formation of contracts at the outset ,is key to a successful outcome of collaboration. A holistic and systematic approach is crucial to focus on issues such as speed,cost,quality,specific project constraints,risk, assets ownership,financing and program. The success of the contract management is influenced by considerations taken during every stages of procurement process. Hence developing procurement routes and bidding systems are incredibly important part of the construction project. Each of these elements should be planned,assessed,evaluated and incorporated into the bid formation as required for successful completion of project. Strategically it is equally desirable for contractors to be equipped with toolkit that needs to be kick off for winning proposals.The important stages in the procurement process flow and set of procedures necessary for completion of project will be explored in detail for public procurement.