Most projects require some procurement. Projects may need to procure supplies, staff, and/or services from outside organizations. Procurement management is one of the ten PMI knowledge areas. There are four PMI processes: plan procurement management, conduct procurements, control procurements, and close procurements. Sometimes this is handled by the project team, while in other organizations there is a procurement function, or a mix of responsibilities depending on the organization's norms (organizational process assets).
Related: make-or-buy decisions, functional manager, agreements, request for proposal