Objective: To understand and apply the procurement process to a real-world project scenario. Scenario: You are the project manager for a construction project that involves building a new hospital. As part of the project, you need to procure construction materials, equipment, and services from various vendors. The project budget is $50 million, and the procurement process must adhere to the project timeline. Instructions: 1. Develop a procurement management plan for the project. The plan should include the following: . Procurement process flowchart . Procurement documentation requirements . Procurement risk management plan . Procurement performance metrics 2. Identify the procurement requirements for the project. These requirements should include the materials, equipment, and services needed for the project, as well as the vendors who can provide them. 3. Develop a procurement schedule that outlines the timeline for each procurement activity, including the release of the request for proposal (RFP), vendor selection, and contract negotiation. 4. Develop a vendor evaluation and selection criteria matrix. The matrix should include criteria such as price, quality, delivery time, vendor experience, and customer service. 5. Develop a request for proposal (RFP) that includes the project scope, procurement requirements, and evaluation criteria. The RFP should be sent to the identified vendors. 6. Evaluate the vendor proposals based on the established evaluation criteria and select the preferred vendor for each procurement requirement. 7. Negotiate contracts with the selected vendors, ensuring that the contracts are aligned with the project budget and timeline. 8. Monitor vendor performance throughout the project to ensure that the vendors are meeting their contractual obligations. 9. Develop a procurement closeout plan that outlines the steps to be taken when each procurement activity is complete.Deliverables: - Procurement management plan 0 Procurement requirements document 0 Procurement schedule a Vendor evaluation and selection criteria matrix 0 Request for proposal (RFP) - Vendor proposals evaluation report 0 Contracts with selected vendors 0 Vendor performance monitoring plan - Procurement closeout plan Rubric for Marks: 0 Completeness and accuracy of procurement management plan (20 %) - Appropriateness and clarity of procurement requirements document (10 %) o Feasibility and comprehensiveness of procurement schedule (15 %) 0 Relevance and comprehensiveness of vendor evaluation and selecon criteria matrix (15 %) - Clarity and completeness of request for proposal (RFP) (10 %) o Thoroughness and clarity of vendor proposals evaluah'on report (10 %) - Appropriateness and completeness of contracts with selected vendors (10 %) o Comprehensiveness and feasibility of vendor performance monitoring plan (5 %) o Feasibility and comprehensiveness of procurement closeout plan (5 %)