In accordance with the PMBOKGuide, the process of ensuring that both the seller's and the buyer's performance meets procurement requirements according to the terms of the legal agreement is the primary objective of Control Procurements (historically and in some study guides referred to as Administer Procurements).
* Core Function: This process involves managing procurement relationships, monitoring contract performance, making changes and corrections as appropriate, and closing out contracts.
* Legal Protection: A key aspect of this process is the legal nature of the relationship. Both the buyer and the seller must ensure they are meeting their contractual obligations. The Project Manager must be aware of the legal implications of the actions taken when administering the contract, as the contract is a dynamic legal document.
* Activities Involved:
* Reviewing and documenting how a seller is performing.
* Authorizing payments to the seller.
* Managing contract-related changes.
* Ensuring that the rights of both parties are protected throughout the execution of the contract.
* Comparison with Other Options:
* Plan Procurements (D): This is the planning phase where you determine what to procure and how to do it.
* Conduct Procurements (A): This is the execution phase where you receive bids, select a seller, and award the contract.
* Close Procurements (B): This is the final step where the contract is formally completed and all administrative matters are settled.