Another issue that can arise if you choose vendors that offer the best price or if you choose vendors without properly researching their product. In both cases, the quality of their product may not meet your expectations and should the product fail in testing the project will be delayed due to you having to try to identify what caused the failure, find a replacement vendor, and rerun the tests. 

In the mini simulation, procurement management was not affected because the qualities that a vendor should possess were already determined and remained unchanged. What changed in the project was the solicitation phase. 

Concerning what might affect procurement management, possibly a new need for a resource that was not initially identified. This will lead to planning and assessing the vendors from which said resource can be obtained. Of course, this misstep will result in huge delays and extra costs, depending on the stage that something like this happens. 

In the mini-sim, we learned that having more vendors meant more time, money, and a broader range for the specs. Other things to consider are whether or not the service or product can be produced from within, which would also have a major affect on the outcome of the project. Finding vendors that match the specs of the product versus being able to produce prototypes of the product sought within the company can alter the budget and time required for execution. 

In addition to the subject, other possibilities are, that vendors were not selected from a vendor verification list. That could affect the project as well. The vendor could have areas of concern after selecting that they do not meet all the requirements that the customers want. Vendor re-selection would definitely cause a major setback. 

It is particularly important to include and consider every stakeholder's potential influence and interest in the procurement process. There needs to be communication between the procurement team and the stakeholders at the right levels to ensure the right vendor is selected from the very beginning.

Hello,

There are various procurement management choices that can significantly affect a project's outcome. Contract type is a crucial choice, where selecting a cost-plus contract can increase costs, while a fixed-price contract can bring in more risks for the vendor. Furthermore, the criteria used to choose suppliers can impact the quality and reliability of products/services delivered. Selecting suppliers based on expertise and experience can improve the likelihood of success compared to solely choosing based on price. Negotiation of price can also affect the scope, cost, and timeline of a project. Monitoring supplier performance can help identify issues early on, allowing corrective action before issues arise. Payment terms can incentivize vendors to provide quality work on time and enable good vendor relationships. Effective contract management can ensure that the project progresses as planned, and the terms and conditions are adhered to. Considering these procurement management choices allows for informed decisions that minimize risk and maximize value.