This is an assignment with a length of ten to twelve pages that should integrate the reading, multi-media and class discussion boards. It is mandatory to have research from the classroom text, as well as three sources from the internet or online library to support your views.

Consider the validity of your resources carefully before using them in academic papers. It is recommended to use examples from your professional experience where possible, or build from your learning in the discussion boards. Use at least one project you have been a team member or a project manager as an example to describe the topics below:

The following topics must be reviewed in order for the paper to be complete:

• The definition of procurement and contract management and the importance to the business world.
• RFP selection tools and how to improve the assessment of proposals.
• The concept of procurement planning and various strategies necessary for project success.
• How to select the most qualified vendor in a proposal.
• Evaluation of the contract and the legal aspects of procurement in a project.
• Comparisons of the critical elements of a contract including relationships between the client, supplier, completion terms and payment terms.