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Project Management & Agile · Intermediate

Control Procurements

Process of managing procurement relationships, monitoring contract performance, making changes, and closing contracts.

Definition

Activities include inspections, audits, performance reviews, claims administration, payment approval, and procurement closure.

Example

The PM reviews the vendor's monthly SLA report and withholds payment for a missed milestone per the contract.

Exam tip

Contract changes require formal contract change control; unresolved claims may go to ADR.

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