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What is procurement management explain the basic steps in

Answer the following question :

Q1. What is procurement management? Explain the basic steps in procurement process.

Q2. What is procurement management? Explain the basic steps in procurement process.

Q3. List the features of Item Rate contracts and demonstrate how they are different from Lump Sum contracts.

Q4. What is RFP? What are the types of consultancy contract?

Q5. Briefly explain the areas of risk and causes of risk in contracts. Briefly describe five conditions for termination of a contract.

Q6. What is outsourcing? What are its benefits and draw backs? Write short notes on contract compliances.

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Operation Management: What is procurement management explain the basic steps in

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