Reference no: EM133243539

Assignment - Project Procurements Discussion

Description - Fleming and Koppelman describe six key events that accompany procurements on projects. They are the following:

1. The project manager must define the items to be procured. This is usually done by conducting a "make or buy" analysis, typically under the direction of the project manager, or staff.

2. They must define the technical requirements of the purchases. This is done by the engineering or design organizations and results in a procurement specification.

3. They must request that a procurement be made by issuing a formal purchase requisition, which is normally done by the project manager, or staff.

4. A formal order to buy must be given by the buyer, who issues a contract or purchase order.

5. The purchased items must be received, inspected, accepted, or the purchased services verified. This consists of taking physical possession of the commodities and/or of verifying their satisfactory completion. Various functions perform this work.

6. Payment must be made for the purchased goods. The accounts payable organization must issue a check to the seller, and the costs recorded on the accounting ledger.

Considering ONE of these events, describe the implications for EVM. How can the work described in this event be separated into distinct tasks? How can task completion be estimated in terms of costs? In terms of earned value?