Project Management

7 Procurement Terms You Should Know

From the The Money Files Blog
A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts. Written by Elizabeth Harrin from

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Categories: procurement

We need to measure project performance to see if the project is on track.

The graphic below shares some ideas on the different ways you can measure work performance. None of these suggestions is better than any other – they are all appropriate for different projects, environments and levels of project management maturity.

procurement terms infographic

Do you use any of these approaches to measure progress on your projects? Why (or why not)? Let us know in the comments section below!

If infographics aren’t you thing, you can get almost the same information (with perhaps a teeny bit more detail) over at this article:

7 Contract Terms You Should Know

Posted on: September 18, 2019 08:59 AM | Permalink

Comments (9)

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Wonderful piece of information on procurement.
Thank you Elizabeth!!

Nice Information

You also need Procure to Pay reporting/tool to monitor the involved procurement services with registered suppliers/ vendors including maintaining business relationship.

Thanks, Elizabeth. Have used CC, but most procurement is managed by the procurement team in my experiences.

Quite Interesting and valuable information. Thanks..

Interesting nfographic thanks for sharing Elizabeth!

Very interesting, thanks for sharing

Thank you for sharing your knowledge.

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