Explain the Process for Conducting and Closing Procurements

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Write a 1,400- to 1,750-word paper in which you explain the process for conducting and closing procurements. Include the following: 

  • Outline and explain high-level process steps for conducting project procurements.
  • Outline and explain contract administration policies and procedures. 
  • Describe tools and techniques for the contract administration process, including the following: 
    • Contract change control process
    • Procurement performance reviews
    • Inspections and audits
    • Performance reporting
    • Payment process (n/30, n/60, and so forth)
    • Records management system (RMS) 
  • Describe conflict resolution techniques used while managing contractual relationships. 
  • Outline steps to be taken to close out project procurements. 
  • Explain the importance of closing project procurements and accounts. 
  • Examine external influences on the procurement and risk management process. 
  • Analyze the relationship between the risk response plan and the external influences. 

Format your paper consistent with APA guidelines. Plagiarism less than 5% include all references and websites. Grammar and punctuation check along with sentence structure.