Whereas the mobility or deliverability of procured items is instant in the software industry, the opposite applies in the construction industry. Incidentally, the risk in the software industry can be mitigated almost immediately, but reasonable time should be allowed for performance in the construction industry (Sollish, 2007, pp
Procurement management is very important to understand in gaining a larger meaning to these processes. Procurement management involves planning and acquiring the product or services from sources, choosing the correct source and eventually closing out the contract It is important for procurement managers to know the processes involved by becoming knowledgeable about the contract terms and conditions and negotiation the best position for the organization (Brown, 2009)
However, more important than this exception is the modern (UCC) concept that a contract can be found to exist where there was nothing more than an exchange of correspondence between the parties. (Gabbard, 1996)
An effective procurement management will help the company in ensuring that its project is being carried out according to the set objectives and purposes (Wisner & Tan, 2000). For example, by conducting a full-fledged market analysis and pre-feasibility study, the company will be able to access the most potential markets where these items are available at the most reasonable prices (Baily, 2010)
All these procurements will spread over a period of 2 weeks (including the purchase of shrubbery, decorative bricks, and railroad ties). Issues that may affect procurements The procurement process is one of the most critical phases in the whole project due to the dependence of all prior and post purchase activities on the quality, quantity, and budgeting of the required material (Carter, Carter, Monczka, Slaight, & Swan, 2000)
These issues will happen if the project management team will not effectively coordinate with the Company's Management or fail to estimate the specifications accurately. Wrong identification of project needs can also result in a delay in decision making, initiation of the project and its subsequent activities, and high additional expenses for tendering for the second time (Lambert & Cooper, 2000)
Secondly, the project management team will identify the exact needs of shrubbery, decorative bricks, and railroad ties for the building space. This initial identification of the project needs will suffice any future market analyses -- thus, saving the time and costs of the company (Lancioni, 2000)
As a result, the company has to postpone its future projects or cut off the least preferred project activities. Moreover, it disturbs the whole timeline for current and future project activities (Monczka, 2009)
In order to ensure the success of procurement process and ultimately the whole project, the company will have to ensure that the shrubbery, decorative bricks, and railroad ties are purchased from the suppliers that have a sound track record and strong public image (Lambert & Cooper, 2000). These suppliers will provide the highest quality of these products to the company which is vital for an effective completion of the project (Pooler, Pooler, & Farney, 2004)
How Procurement Management will support the Project Process? The procurement management constitutes all the activities from the initial market analysis to the supplier evaluation, and finally, the purchase of shrubbery, decorative bricks, and railroad ties. An effective procurement management will help the company in ensuring that its project is being carried out according to the set objectives and purposes (Wisner & Tan, 2000)
Chapter II -- Analysis & Summary There are three basic outcomes that can arise when speaking of how a contract is wrapped up for otherwise satisfied in a legal manner. The usual, and no-doubt expected manner, is that the procurement of goods is done on-time, on-budget and in a complete manner (Banker, Kalvenes & Patterson, 2006)
Plans do change sometimes and there are ways to deal with that. However, for a contract to be fulfilled in the first place, it has to have all of the relevant information and the information must be accurate (Rob, 1986)
For a procurement contract to go off without a hitch, all of this must be attended to. There is also the specter of predatory pricing and other incendiary behavior that goes on every day (Sherrer, 1981)
Missing little but important details can cause major headaches and issues if the matter devolves into a court case. Proper communication can solved or head off many to most issues (Taylor & Plambeck, 2007) As noted earlier in the report, the conditions and events that lead to both parties wanting to just scrub the contract and not do it at all (or at least not go any further) is also an option that may rear its head and it's not all that hard to execute that so long as both parties are on board with doing that
An area of procurement contracts where dealing with the above and other pitfalls and regulations is common would be contracts that operate in whole or in part in the public sphere. A study of such contracts in Sweden found that there are some hazards in deal with public-related contracts including special requiremetns that are not typically present and/or required in a private sector contract (Waara, 2008)
"Four main approaches can be undertaken to control for these other factors. Two of them can be implemented in the initial design of the study (randomization or matching of cases and controls, for example) and the other two during analyses of the data (strati-ed or multivariate analysis)" (Aday & Cornelius, 2011)
Meanwhile, in a ?eld study of an industrial supplier and its customer, Mukhopadhyay and Kekre (2002) found that a supplier could derive strategic bene-ts when the hub customer ?rm initiates the e-procurement system and the supplier trading partner, in turn, enhances the system's capabilities. It was also found that supplier trading partners with advanced technological capabilities can signi-cantly increase the bene-ts of an order processing system both to themselves and their customers" (Angeles & Nath, 2007)
One of the ideal aspects of this type of method is that it allows for the tools for one to study truly complex phenomena within their organic contexts. The correct approach of this method means that it can become a truly indispensible tool for health science researchers in the development of theory, and in the evaluation of programs and for the development of interventions (Baxter & Jack, 2008)
Homogeneous sample units are useful when you wish to observe or interview a particular group, for instance specialists in a ?eld or elite group members. The sample may be homogeneous with respect to a certain variable only, for instance occupation, length of experience, type of experience, age or gender" (Daymon & Holloway, 2011)
Seemingly large sample sizes do not necessarily represent a probability sample. When conducting survey research, if follow-ups are not planned and budgeted for, the study should not be initiated" (Draugalis et al