PMI Scheduling Professional Certification (PMI-SP) Practice Exam

Which procurement management process involves selecting vendors?

1. Control Procurements

2. Plan Procurement

3. Conduct Procurements

4. Close Procurements

The correct answer is: Conduct Procurements

The process that involves selecting vendors is Conduct Procurements. This phase in procurement management is focused on obtaining responses from potential suppliers and making the selection of vendors who will provide the needed goods and services. It entails activities such as issuing requests for proposals (RFPs), evaluating the proposals received, conducting interviews or negotiations, and ultimately awarding contracts to the chosen vendors. This process is crucial because the quality and reliability of the vendors selected can significantly impact the project’s success. By carefully evaluating all options and making informed decisions during this phase, project managers ensure that they align procurement with the overall project objectives. In contrast, the other options represent different aspects of procurement management. For instance, Plan Procurement is about identifying project needs and determining which resources to procure, while Control Procurements involves managing procurement relationships and performance after contracts are in place. Close Procurements deals with finalizing everything associated with a procurement, ensuring that any contractual obligations have been satisfied and contracts are closed effectively. These processes are necessary but do not focus specifically on the actual selection of vendors.