The Procurement Project Management Software Process is the method by which products are acquired for a project from external suppliers. The process involves controlling the ordering, receipt, review and approval of products from suppliers as well as managing the overall performance of the supplier.

A procurement process is used to ensure that all project management templates products are acquired within the correct timescales, to the level of quality defined and within the budgeted cost identified. The process also sets out the procedures for ensuring that supplier relationships are properly managed, through the regular review of supplier performance and resolution of supplier issues.

The procurement process is initiated after the Procurement Plan has been approved and the Supplier Contract signed. The procurement process is usually managed by a single resource within the project (such as a Procurement Officer or Manager) and overseen by the Project Manager.

Without a formal procurement process in place, it will be difficult to confirm that the products provided by the supplier are ‘fit for purpose’ and therefore meet the requirements outlined within the Procurement Project Plan. It will also be difficult to identify and manage supplier issues and will therefore increase the overall level of risk to the project. The procurement process is terminated only when the Execution phase is complete.