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Procurement Strategy

The buyer's plan for choosing the project delivery approach and the form(s) of enforceable contract to achieve the desired results.

Key Points

  • Specifies how the project will be delivered (for example, design-bid-build, design-build, EPC, or phased delivery).
  • Selects contract type(s) and pricing models (fixed-price, cost-reimbursable, or time and materials) to align risk and incentives.
  • Informed by risk, complexity, schedule, budget, market conditions, and make-or-buy analysis.
  • Guides solicitation method, supplier selection, negotiation approach, and contract governance.

Example

A city plans a new water treatment facility. The buyer chooses a design-build delivery method and a fixed-price contract with schedule incentives. This procurement strategy drives the RFP content, prequalification of vendors, and the negotiation plan.

PMP Example Question

During planning, the project manager must decide between design-build and design-bid-build and whether to use a fixed-price or cost-reimbursable agreement. Which document captures these decisions?

  1. Procurement management plan
  2. Procurement strategy
  3. Source selection criteria
  4. Statement of work

Correct Answer: B — Procurement strategy

Explanation: The procurement strategy records the chosen delivery method and contract type; the plan describes the overall procurement process, the criteria define how offers are evaluated, and the SOW describes the work to be done.

Leadership for Project Managers Course

Lead with clarity, confidence, and real impact. This Leadership for Project Managers course turns day-to-day challenges—unclear priorities, tough stakeholders, and cross-functional friction—into opportunities to guide teams and deliver outcomes that matter.

You’ll learn practical leadership skills tailored to project realities: setting direction without overcontrol, creating alignment across functions, and building commitment even when authority is limited. We go beyond theory with tools you can use immediately—one-sentence visioning, stakeholder influence maps, decision framing, and feedback scripts that actually land.

Expect hands-on frameworks, real-world examples, and guided practice to prepare for tough moments—executive readouts, resistance from stakeholders, and high-stakes negotiations. Downloadable templates and checklists keep everything actionable when the pace gets intense.

Ready to influence without waiting for a bigger title? Join a community of ambitious PMs, sharpen your edge, and deliver with purpose—project after project.



Take Control of Project Performance!

HK School of Management helps you go beyond status reports and gut feelings. In this advanced course, you’ll master Earned Value Management (EVM) to objectively measure progress, forecast outcomes, and take corrective action with confidence. Learn how WBS quality drives performance, how control accounts really work, and how to use EAC, TCPI, and variance analysis to make smarter decisions—before projects drift off track. Built around real-world examples and hands-on exercises, this course gives you practical tools you can apply immediately. Backed by our 30-day money-back guarantee—low risk, high impact for serious project professionals.

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