An Acquisition Process Area at Maturity Level 2
Purpose
The purpose of Agreement Management (AM) is to ensure that the supplier and the acquirer perform according to the terms of the supplier agreement.
The Agreement Management process area involves the following activities:
· Executing the supplier agreement
· Monitoring supplier processes
· Accepting the delivery of acquired products
· Managing supplier invoices
The legal nature of many acquirer-supplier agreements makes it imperative that the project management team is acutely aware of the legal implications of actions taken when managing the
acquisition of products or services.
The supplier agreement is the basis for managing the relationship with the supplier, including resolving issues. It defines the mechanisms that allow the acquirer to oversee the supplier’s
activities and evolving products and to verify compliance with supplier agreement requirements. It is also the vehicle for a mutual understanding between the acquirer and supplier. When the supplier’s performance, processes, or products fail to
satisfy established criteria as outlined in the supplier agreement, the acquirer may take corrective action.
Refer to the Project Monitoring and Control process area for more information about monitoring projects and taking corrective action.
Refer to the Measurement and Analysis process area for more information about specifying, analyzing, and reporting measures and how measurement data are analyzed and
reported.
Refer to the Solicitation and Supplier Agreement Development process area for more information about establishing and maintaining the supplier
agreement.
Refer to the Acquisition Validation process area for more information about validating products.
Refer to the Acquisition Technical Management process area for more information about evaluating supplier deliverables.
Specific Goal and Practice Summary
SG 1 Satisfy Supplier Agreements
SP 1.1 Execute the Supplier Agreement
SP 1.2 Monitor Selected Supplier Processes
SP 1.3 Accept the Acquired Product
SP 1.4 Manage Supplier Invoices
Specific Practices by Goal