Completing and settling each contract after any open items or settlements are resolved refers to which of the following Project Procurement Management processes?
A)Plan Procurements
B)Conduct Procurements
C)Administer Procurements
D)Close Procurements
E)Plan Exit Strategy

Question

Quizplus · Accepted Answer

Closing Procurements involves completing and settling each contract after any open items or settlements are resolved, which is exactly the process mentioned in the question. Choice A (Plan Procurements) is about determining what to procure and when to procure it. Choice B (Conduct Procurements) is about obtaining seller responses and selecting a seller. Choice C (Administer Procurements) is about managing the relationship with the seller and ensuring that the seller performs according to the contract. Choice E (Plan Exit Strategy) is not a Project Procurement Management process.

Completing and Settling Each Contract After Any Open Items or Settlements