Exam PMP topic 1 question 512 discussion

While updating the procurement management plan is important, it’s the procurement strategy that directly deals with sourcing and cost management. The plan provides the framework, but the strategy defines the specific approach to procurement, making D a more precise and actionable choice.

Firstly I choose B but after that I choose D due to we need to change the strategy and deal with contractor again to get official solution

B include D.

The project manager should **B. Update the procurement management plan and negotiate with the contractor**. The procurement management plan outlines how procurement will be managed and can be updated to reflect current project needs. After updating the plan, the project manager can negotiate with the contractor to reach an agreement on the costs. This approach ensures that the project manager maintains control over the project costs and aligns with best practices in project management.

B. Update the procurement management plan and negotiate with the contractor. In this situation, the project manager should first update the procurement management plan to address the issue of missing materials and the contractor's offer. Then, the project manager should initiate negotiations with the contractor. This may involve discussing the cost of the missing materials, the timeline for delivery, and any other terms and conditions related to the procurement. Negotiating with the contractor allows the project manager to seek a more favorable agreement that aligns with the project's budget and schedule constraints. If necessary, the project manager can also involve relevant stakeholders, such as the project sponsor, to ensure that the negotiation process is conducted effectively.

B. Update the procurement management plan and negotiate with the contractor. Most Voted Procurement strategy is included in the procurement management plan.

Updating the procupement strategy will provide new options that will ensure the same situation won´t happen again in the future.

Updating the procurement strategy should generally be considered when other avenues within the existing procurement management plan do not provide a satisfactory solution to address the challenges or changes encountered during the project. It can be seen as a more comprehensive and strategic response when the existing plan's provisions do not align with the project's evolving needs or unexpected circumstances.

I think folks don't like B because we are in the execution phase. We can still update the Plan, even if we are in Execution.

B. Update the procurement management plan and negotiate with the contractor. By updating the procurement management plan, the project manager can reassess the situation and determine the best course of action to address the issue of missing materials. This includes reviewing the current procurement strategy and considering alternative options.

Procurement Strategy: to decide do it in-house or outsource. Procurement Management Plan is to manage the process of outsourcing.

Procurement strategy or procurement management plan??? In procurement tbe management plan includes the strategy

D. PMBOK 12.1.3.1 Procurement Management Plan. Once the make-or-buy analysis is complete and the decision is made to acquire from outside the project, a procurement strategy should be identified.

IA says: option B is the most appropriate choice, as it emphasizes the importance of updating the procurement management plan, which provides a framework for negotiating with the contractor and resolving the issue of the missing materials and excessive costs.

Since the project is already in the execution phase, updating the procurement management plan can help the project manager determine the appropriate procurement strategy to use in addressing the current issue with the contractor's offer. This may include negotiating with the contractor to arrive at a more reasonable cost or finding alternative sources for the missing materials. Option A is not the best choice because asking for additional budget may not always be feasible or available. Option C is not recommended since it may not be feasible for the contractor to reduce the costs of the materials any further. Option D is not necessary since the procurement strategy may not need to be changed, only updated to reflect the current situation.

Will go with B

B. It is issue of missing materials with current supplier. The project manager should update the procurement management plan to include the new procurement process for the missing materials and negotiate with the contractor to agree on reasonable costs for the materials. The project manager should ensure that the procurement process is executed in a timely manner to avoid further delays in the project schedule. Asking the project sponsor to allocate more budget or updating the procurement strategy may not be necessary if the project manager can negotiate a reasonable price for the missing materials.