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Section 5: Signature Assignment: Project Procurement Close-Out Explanation

Section 5: Signature Assignment: Project Procurement Close-Out Explanation

Section 5: Signature Assignment: Project Procurement Close-Out Explanation

The closing out, completion, finalizing of a project is a complex process of checks, audits, and reviews. In the area of procurement management the actions taken to close out an individual or multiple procurement actions is time consuming and intricate process of checks and balances to ensure the project team that the good, services, materials, and personnel procured were received, action required accomplished and payment was provided to the contracted party. Many actions may be included in procurement close-out ensuring the project were properly utilized and services, actions and materials were provided in the correct quantity and at the desired time and location.

Assignment 7 Signature Assignment: Project Procurement Close-out Plan

The Signature Assignment and reflective discussion should show how you: (a) demonstrate mastery of the course material, and (b) apply this knowledge to the real world. For the Signature Assignment you (project manager) will be developing and assembling a Close-Out Plan for your project.Main Task: Design a Project Procurement Close-out Plan
Write a paper addressing the following:

  • Determine and quantify the tasks associated with the close-out of procurement contracts.
  • Focus your discussion on termination of contractual relationships and settlement of seller claims as well as the successful completion of a contract.
  • Categorize the differences in termination of contracts, settlement of claims, and the proper steps to close a successful contract.
  • To explain your project procurement close-out plan provide within the document a diagram that that will recommend your plan for the proper close-out of contract given the categorized differences between, termination, settlement of claims and the proper steps to close-out a successful contract or procurement action.
  • Keep in mind many contracts are closed out due to completion of the contract.

Support your paper with a minimum of five (5) external resources In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
Length: 10-12 pages not including title and reference pages, possibly a simple diagram and a spreadsheet
Your paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University's Academic Integrity Policy.

Activity Resources: Kerzner, H. (2009): Chapter 11 (11.15-11.22) and review Chapter 19

  • Ritchie, B.,
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Section 5: Signature Assignment: Project Procurement Close-Out Explanation
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Preview: at xxx beginning xx the project xx the project xxxxxxxxx above xxx xxxxxx would xx only 30% xx the payment xx advance xxxxxxx xxx entire xxxxxxx would be xxxx in 3 xxxxxxxxxxxx These xxxxxxxxxxxx xxx be xxxxxxx as:Payment 1: xxx of the xxxxx cost, xx xxxxx be xxxx at the xxxxxxxxx of the xxxxxxx This xx xxx advance xxxxxxx done by xxxxxx Payment 2: xxx of xxx xxxxx payment, xx would be xxxx after the x months xxxx xxxxxxx would xx done when xxx project is xxxxxxxxx 50% xxxxxxx xx 30% xx the total xxxxxxxx it would xx done xx xxx end xx the project xxxx payment would xx done xxxx xxxx the xxxxxxx agree upon xxx project deliveries xxxx payment xxxxx xx done xxxxx the closure xx the project xxx timelines xx xxx project xxx be shown xxxxxxxxxx TimelinesActivitiesM0M1M2M3M4M5M6M7Project conception xxx initiationÂ

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