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12: Agile Project Management Office > VENDOR MANAGEMENT
VENDOR MANAGEMENT
Agile PMO helps to coordinate with external vendors managing the contracts, ensuring compliance and shielding the Agile team from the operational-related activities. The vendor management process related to procurement is discussed as follows. There are four main steps in managing the procurement, namely:
- Plan procurements
- Conduct procurements
- Administer procurements
- Close procurements
Each of these steps is explained in detail later in this chapter. But first let us understand the concept of preparing a contract with the vendor, before deep diving into procurement management.
PMI-ACP WATCH
Privity is contractual information between customer and vendor (Just between you and me) and it occurs most commonly contract of sale of goods or services. Horizontal privity arises when the benefits from a contract are to be given to a third party and vertical privity involves a contract between two parties, with an independent contract between one of the parties and another individual or company.