Version 1 January 2024

SSG26 covers the activities necessary to create, manage, maintain, and enforce contract and supplier management over the entire life cycle of an asset.   The document covers areas such as principles of Procurement and Supply Chain Management (PSCM), developing a PSCM strategy, developing a strategic sourcing plan, procurement processes and contracts, maintaining supplier relationships, financial commitments and project financing and PSCM and the asset life cycle.  To support the reader the document also includes appendices on key aspects of PSCM such budgeting and accounting concepts, project financing terminology, structured procurement processes and contract interpretation.

This SSG applies to professionals who:

• Lead a comprehensive tendering process
• Define a public-private partnership
• Issue Purchase Orders; and verify whether purchased goods and services are received
• Manage suppliers of capital assets and related goods and services
• Define and monitor maintenance arrangements and service legal agreements
• Design, build, or create assets as a general contractor, subcontractor, or professional services firm
• Re-sell or otherwise dispose of assets
• Manage facilities such as buildings, machinery, and information technology
• Hire companies and individuals to provide professional asset management services
• Write business cases to support investments in new projects or continuing operations, especially where the investments entail ‘make or buy’ ‘buy’ decisions
• Secure project or operations financing for any goods and services supplied from outside the organization

View a preview of this SSG here

The Institute would like to thank our sponsors National Grid and the IAM Patrons whose support is greatly appreciated in enabling the design and publication of this document.