PSU NEWS
Functional Training in Procurement and Contract Management
New Delhi: A one day programme on “Procurement and Contract Management” was conducted by eminent faculties from the Indian Institute of Materials Management (IIMM) Mumbai, for 45 dealing officers of Commercial, Purchase, MES, Admin, TS, PHS, Project and Marketing Deptt.
Procurement Contract Management. Contract management is the process of managing contracts that are made as a part of legal documentation of forging work relationships with customers, vendors or even partners. Contract management comprises negotiating the terms and conditions in contracts.
Effective planning at the project initiation stage, quality evaluation processes, and effective contract management post-contract award are critical to facilitating successful contract delivery.A procurement plan must be developed for procurements with a total estimated value of $5 million and above except where the Accountable Authority decides that the plan would be of no benefit due to the nature of that procurement.
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