INSTRUCTIONS
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 the tools and techniques for the contract administration process, including the following:
· Contract change control process
· Procurement performance reviews
· Inspections and audits
· Performance reporting
· Payment process (n/30, n/60, and so forth)
· 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.