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Introduction


- The close procurements process deals with the contract closure or termination aspects. It deals with administrative closure too in terms of payment of claims, archiving records etc. All this is done based on the agreement between the parties.
- The Close Procurements process precedes the Close Project or Phase process.

Inputs


- Procurement Management Plan: How-to for contract closure.
- Procurement Documents: Proposals and other documents related to the project procurement.

Tools & Techniques


- Procurement Negotiation: Settlement, dispute resolution
- Records Management System: Record Archival for future procurements
- Procurement Audits: Structured Review of all documentation and work to ensure that all criteria have been met as per the process.

Outputs


- Closed Procurements: The steps for closure are documented in the procurement management plan. The buyer provides the seller a formal written notice that the contract has been completed.
- OPA Updates: For future reference, lessons learnt.

Match the Following


1. Records Management System - a. Work Review
2. Procurement Audit - b. Agreement Archival
3. Procurement Negotiation - c. Contract Termination Process
4. Close Procurements - d. Settlement

Match the Following (Answers)


1. Records Management System - b. Agreement Archival
2. Procurement Audit - a. Work Review
3. Procurement Negotiation - d. Settlement
4. Close Procurements - c. Contract Termination Process