The process involved with buying assets that a project needs.
Phases
- Identify needs. Write a report when finished
- Evaluate suppliers. Could be a simple search or a drawn out interview process
- Negotiate terms and finalize purchase order. Both sides should be willing to make concessions
- Receive Invoice and process payment
- Delivery and audit. When the product arrives, see if operations are better than its previous state
- Maintain records for future audits. Continue to track effectiveness verses ROI