Select a procurement document for the turnaround project and
Select a procurement document for the turnaround project and explainyour selection; develop a proposal evaluation method for the turnaroundproject that will be used to select a supplier.This portfolio work, project procurement and evaluation, is based onyour selected business or IT project. You may choose to base yourassessment on the Revive LLC case study for the development of a newonline employee orientation module, or you may select an organization ofyour own choosing. Both human resource (HR) and information technology(IT) employees, as well as contractors, will be utilized in thisproject. Project Procurement Management is defined ‘as a methodology thatincludes the processes necessary to purchase or acquire products,services, or results needed from outside the project team’ (ProjectManagement Institute, 2017). The procurement process should be dynamic and flexible to ensure thebest combination of quality and pricing is obtained. For a more complexprocess many factors should enter into the decision-making process toobtain the best possible outcome with the lowest total cost ofownership, or TCO. Per the PMBOKÂ® Guide, and as referenced in Kerzner (2017),project procurement management includes the processes where the projectobtains a product or service from outside the project organization. Theorganization’s perspective regarding procurement can either be as thebuyer or the seller of the product or service. Project procurementmanagement also includes the contract management and change controlprocesses that are required to administer the signed contracts or anyissued purchase orders. Project procurement management includes thefollowing four key or major processes (Project Management Institute,2017, Chapter 12): Plan Procurements â€“ the process of documenting purchasing decisions, specifying the approach, and identifying potential sellers.Conduct Procurements â€“ the process of obtaining seller responses, selecting a seller, and awarding a contract.Control Procurements â€“ the process of managing the procurementrelationships, monitoring contract performance, and making changes andcorrections as appropriate, and closing out contracts. Reference Kerzner, H. R. (2017). Project management: A systems approach to planning, scheduling, and controlling (12th ed.). Hoboken, NJ: Wiley. Project Management Institute. Guide to the Project Management Body of Knowledge (PMBOKÂ® Guide) â€” Sixth Edition and Agile Practice Guide. Newtown Square. PA. 2017, p. 717. Project Procurement Management The above-mentioned processes can be quite involved and theramification of the decisions and outcomes can be costly. There isgenerally a great deal of interaction and overlap between theseprocesses. With procurement management, it is imperative that theproject team seeks the support of contract (legal) and procurement(purchasing) specialists and involve such specialists early on. The first key procurement management processâ€”plan purchases andacquisitionsâ€”determines what, when, and how to procure. After thedecision is made about which project needs can best be met by procuringproducts or services from outside of the project organization, the teamcontinues to the second key process: the ‘plan contracting.’ Thisprocess involves preparing the documents needed for solicitation and theevaluation criteria used to score proposals. The most common documentsfor solicitation are the request for quote (RFQ) and the request forproposal (RFP). The RFP is generally more exhaustive and is used whenall of the details of a solicitation are well known. The responses fromvarious suppliers may fill in some of the missing blanks. The RFQ ismost generally used for price and delivery quotations on specific items.Although the above statements are generally true, some organizationsuse these documents interchangeably. Writing a good RFP is essential if you want to receive a thoroughand complete response from suppliers and vendors. To ensure a thoroughand properly written RFP you will need to include SMEs (subject matterexperts) who have experience in the appropriate discipline. Scenario For this assessment, choose either Option A or Option B. You do notneed to do both. Both options will be graded using the same scoringguide. Option A: Project Revive LLC, and you as theconsultant, must be concerned with all the processes of projectmanagement and not just with the procurement process. However, for thepurposes of this course you will concentrate on the application of thefour procurement processes. The assessment focuses on analyzing andcreating different procurement documents. Consider issues that may limit the project options, such as budgetcost and staffing decisions for NearlyFree.com. NearlyFree.com is afictitious company and the project documents for NearlyFree.com projectscenario are linked below. As part of your job as the consultant, you convinced your client,NearlyFree.com, to procure a new employee orientation web-based trainingsoftware system (the product) from a third-party vendor. Therefore, thebuy rather than make decision has already been made.Although you have had a lot of experience procuring external resources,NearlyFree.com is a small company and has not been through the rigorousprocurement process considered as best practice by Fortune 500companies. So, as part of your services, you will guide NearlyFree.comthrough key aspects of the procurement process. The first step ishelping NearlyFree.com recognize different procurement documents andmake the right selection for this project. At this point in the process, you also need to help NearlyFree.comprepare to evaluate the proposals and information they obtained from thesolicitation process. You will develop a proposal evaluation methodthat will be used to select a supplier.Your Role You are the project manager. RequirementsUse the PMBOKÂ® Guide as the model for developing the deliverables. Part 1: Project Procurement Analysis Deliverable: Select a procurement document for the turnaround project and explain your selection. Complete the following tasks to assist in a selection: Analyze each procurement documentâ€”RFQ, RFP, RFI, and IFBâ€”bydescribing the characteristics of each document and appropriatesituations in which each applies.Select a procurement document for the turnaround project and explain your selection. Part 2: Project Procurement Proposal Evaluation Deliverable: Develop a proposal evaluation method for the turnaround project that will be used to select a supplier. Complete the following tasks: Develop bid solicitation criteria.Define minimum acceptable criteria for bidding.Explain how you selected the criteria. Explain a strategy or approach for soliciting bids.Evaluate risks associated with proposal evaluation.This may include items such as past performance, quality ratings, delivery performance, and contractual compliance.Describe risks and potential problems related to evaluating proposals and suggest strategies for overcoming these issues.Use the Evaluation Criteria Weighting System multimedia activity as an example for creating your proposal evaluation. Develop a plan to mitigate each major risk.Apply evaluation criteria to select suppliers. Preparation Use the software of your choice to develop the deliverables for this assessment. This assessment has two deliverables: Develop a comprehensive Project Procurement Analysis.Develop a comprehensive Project Procurement Proposal Evaluation. Deliverable Format References: There is no set number of references required for thisassessment. Use scholarly or academic sources where applicable.Format:Microsoft Project is not required for this assessment. This assessment has two parts and two deliverables.Use your choice of MS Word, MS Visio, or MS PowerPoint to develop the comprehensive analyses.These analyses are professional documents and should therefore follow the corresponding Academic and Professional Document Guidelines [PDF], including single-spaced paragraphs.Use APA style and format for references and in-text citations. Evaluation By successfully completing this assessment, you will demonstrateyour proficiency in the following course competencies throughcorresponding scoring guide criteria: Competency 2: Apply project procurement tools and techniques to ensure project success.Describe the characteristics of each procurement document and its appropriate use in the project.Select a procurement document and provide a rationale.Develop bid solicitation criteria.Explain a strategy or approach for soliciting bids.Evaluate risks associated with proposal evaluation.Apply evaluation criteria to select suppliers Competency 4: Communicate effectively in a professional manner consistent with the standards of project management.Develop a plan to mitigate each major risk.