Explain the importance of closing project procurements

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Reference no: EM131480082

Assignment: Contracting Process Paper

Write a 1,400- to 1,750-word paper in which you explain the process for conducting and closing procurements.

Include the following:

• Outline and explain high-level process steps for conducting project procurements.
• Outline and explain contract administration policies and procedures.
• Describe tools and techniques for the contract administration process, including the following:

o Contract change control process
o Procurement performance reviews
o Inspections and audits
o Performance reporting
o Payment process (n/30, n/60, and so forth)
o Records management system (RMS)

• Describe conflict resolution techniques used while managing contractual relationships.
• Outline steps to be taken to close out project procurements.
• Explain the importance of closing project procurements and accounts.
• Examine external influences on the procurement and risk management process.
• Analyze the relationship between the risk response plan and the external influences.

Format your paper consistent with APA guidelines.

Reference no: EM131480082

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