As a senior project manager, you are getting ready to start a new project. After reviewing the high-level project breakdown, your project sponsors are questioning the number of resources you have allocated for procurement monitoring activities. In this case, explain the importance and the components of a procurement monitoring framework to your project sponsors and justify your request for additional resources.

List and Describe the "Components of a Procurement Monitoring Framework" and Defend the monitoring framework's importance - A Summary Defense on the Inclusion of Each Component