Project Management

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For a IT project that requires vendor involvement, would you manage the Procurement process separately from the actual System Implementation in 2 IPEC cycles?

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Huey Shin Tan Singapore
For in-house development projects, it is straight forward.

For a IT project that requires vendor involvement, would you :
1) manage the Procurement process separately from the actual System Implementation in 2 IPEC cycles?
Or
2) would you combine the 2 processes and manage them as only 1 PM cycle?

Which would be a better option ?
If #1, how can the 2 project cycles be managed effectively as a full project implementation from the organizatio persepective?

Any advice is appreciated.
Thank you.

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