Plan and Manage Procurement: Execution

When an aerospace engineering team sets out to build an orbital launch vehicle, they do not manufacture their own O-rings, forge their own titanium fasteners, or weave their own carbon fiber. They must seamlessly integrate external capabilities with their internal vision. This threshold—where internal project boundaries meet external market forces—is the domain of procurement. At the planning stage, a fundamental make-or-buy analysis determines whether work should be accomplished by the internal project team or purchased from outside sources. But once the decision to buy is made, the project manager must shift from theoretical planning into the rigorous mechanics of market engagement.