Free PMI Project Management Professional Practice Question

Managing suppliers and contracts is essential to ensure that the project receives the required resources and services from external providers while meeting the agreed-upon quality standards, cost, and schedule. It involves establishing clear expectations, monitoring performance, and maintaining open communication with suppliers throughout the project lifecycle. Negotiating prices, while important, is not the primary purpose of supplier and contract management. Similarly, while minimizing project costs and avoiding scope changes are beneficial outcomes, they are not the main focus of this process.