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.