Managing the relationship and contract between the buyer and seller is part of _____.
A)Plan Procurements
B)Conduct Procurements
C)Administer Procurements
D)Close Procurements
E)Plan Exit Strategy

Question

Quizplus · Accepted Answer

Administer Procurements involves managing the relationship and performance of the seller based on the terms of the contract. This includes monitoring, controlling and ensuring timely delivery of goods or services, managing changes, resolving conflicts and disputes, and making payments to the seller. Plan Procurements involves identifying the procurement needs and developing procurement management plan, Conduct Procurements involves obtaining seller responses, selecting the best seller and awarding the contract, Close Procurements involves contract closure activities and payment of the final invoices, while Plan Exit Strategy involves identifying a process for smooth exit from a procurement.

Managing the Relationship and Contract Between the Buyer and Seller