PMP Certification Training - Plan Procurement Management

The video tutorial covers the process of procurement management, detailing the steps involved in documenting project procurement decisions, identifying potential sellers, and determining whether to purchase goods or services. It discusses the inputs, tools, techniques, and outputs of the process, emphasizing the importance of aligning procurement strategy with the business case. The tutorial also explores various selection methods and the significance of enterprise environmental factors and organizational process assets. Finally, it outlines the documentation and changes required in the procurement management plan.

What is the primary purpose of procurement management in a project?

• To allocate resources efficiently

• To ensure the project is completed on time

• To manage the project team and their assignments

• To document project procurement decisions and identify potential sellers

Which document is crucial for aligning the procurement strategy with the business case?

• Project Charter

• Benefits Management Plan

• Milestone List

• Risk Register

What is included in the scope baseline that is important for procurement management?

• Resource management plan

• Quality management plan

• Risk management plan

• Project scope statement and acceptance criteria

Which project document helps in determining the types of services or goods needed for risk management?

• Stakeholder Register

• Requirements Documentation

• Risk Register

• Milestone List

What role do enterprise environmental factors play in procurement management?

• They determine the project budget

• They influence the availability of goods and services

• They define the project scope

• They establish the project timeline

What is the purpose of conducting market research in procurement management?

• To determine the project timeline

• To identify potential vendors and their capabilities

• To finalize the project budget

• To allocate resources efficiently

Which selection method is suitable when the procurement value is small and a full selection process is unnecessary?

• Qualifications only

• Least cost

• Fixed budget

• Quality based

What is the main focus of the procurement statement of work?

• To allocate resources

• To define the project timeline

• To describe the deliverables in detail

• To outline the project budget

What is the result of a make-or-buy analysis?

• A project timeline

• A list of potential vendors

• A decision on whether to outsource or perform work in-house

• A detailed project budget

Which project documents may be updated as a result of the procurement management process?

• Project Charter and business case

• Project timeline and budget

• Quality management plan and resource management plan

• Lessons learned register and milestone list