Procurement performance reviews
“Procurement Performance Reviews” is a tool/technique for the process “Control Procurements “.
A procurement performance review is a structured review of the seller?s progress to deliver project scope and quality, within cost and on schedule, as compared to the contract. It can include a review of seller-prepared documentation and buyer inspections, as well as quality audits conducted during seller?s execution of the work.
The objective of a performance review is to identify performance successes or failures, progress with respect to the procurement statement of work, and contract noncompliance, which allow the buyer to quantify the seller?s demonstrated ability or inability to perform work. Such reviews may take place as a part of project status reviews, which would include key suppliers.
This definition was found in the PMBOK V5
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