What is a procurement management plan?

A procurement management plan is a crucial document in project management that specifically outlines how procurement processes will be managed throughout the project lifecycle. This includes details about how goods and services will be acquired, the roles and responsibilities of team members involved in procurement, and the overall approach to vendor selection and contract management.

This plan is essential for ensuring that all procurement activities align with the project's objectives, budget, and timeline. It may also include strategies for risk management related to procurement and vendor performance benchmarks. By having a clearly defined procurement management plan, project managers can ensure a more efficient procurement process and establish clear expectations both for project stakeholders and external suppliers.

The other choices refer to different aspects of project management. Estimating total project costs relates more to cost management, communication strategies pertain to stakeholder engagement, and a list of project deliverables focuses solely on outputs rather than the procurement process itself. Hence, the procurement management plan's specific focus on managing procurement processes makes it the correct answer.