Project management involves baselines that are used to compare the performance report and the work performance. A necessary part of project management is the procurement of resources, information, and finances.
Control procurements is a process that involves managing the procurement relationships of the project. It also involves monitoring the contract performance as well as making the necessary changes and corrections alongside it.
The benefit of control procurements is that it ensures that the performance of seller and buyer meets the procurement requirements according to the terms set by a particular legal agreement. It involves different inputs, tools, techniques and outputs to complete the process.
In project management, it is necessary for the buyer and seller and to meet the obligations stipulated within the contract. The control procurements ensure that the contractual obligations are protected. It also ensures that the project management team to be aware of all implications of the actions taken during procurement.
Under this process, it is crucial for the seller to meet the procurement requirements while the buyer needs to perform according to the terms that are stipulated in the contract. These include making timely payments and also creating a contract change management if necessary. In a way, this particular process comes with a financial management component because it involves monitoring payments made to the seller. Control procurements encourage both the buyer and seller to work on the agreement to ensure that both are fulfilling their commitments.
Lastly, agreements can be changed anytime even before there is a closure of the contract. Changes that may not affect the contractual obligation and has achieved mutual consent can be implemented at any given time. Those that will affect the project at large require the control procurements process to review the changes and capture them in writing so that the amended changes can be implemented in the future.
This term is defined in the 5th edition of the PMBOK.