Option #1: The Importance of Make-or-Buy AnalysisExplain the importance of planning (i.e., Plan Procurement Management as described in Part 1, Section 12.1.2 of the PMBOK® Guide) as a foundational activity in the procurement process in a two- to three-page paper (cover page and reference page are required and not included in the page count) and using your research skills address the following:Explain what is Make-or-Buy analysis?What can happen if procurement processes are built on poor planning?What are the benefits of a Make-or-Buy analysis?Provide an example of a procurement process used by a project-based organization found via the web or the CSU Global Library that demonstrate a proper use of the Plan Procurement Management. What do you like about the example?Be sure to properly organize your writing and include an introduction, headings/subheadings for the body of your work associated with each of the numbered items above, your analysis/suggestion, and a conclusion. Utilize the textbook and at least two outside scholarly, peer-reviewed articles from the CSU Global Library. Be sure to cite your sources in a reference page. Format your entire paper according to the CSU Global Writing Center (Links to an external site.).Option #2: Various Types of SpecificationsDescribe the requirements that are typically identified and evaluated in
projects to help determine what products and services need to be procured. Then describe the main types of specifications including functional, performance, and technical specifications.Provide a two- to three-page paper (cover page and the reference page are required and not included in the page count) to complete this assignment and use your research skills to find a project for which products and services can be procured using each of the main three types of specifications noted above. The project can be a real-world project, a project from a case study, a project you have been involved in, and a project whose documentation is available to the public online or among the library resources. Identify this project, describe its scope of work, and describe the products and services for which the main three types of specifications are or can be defined.Be sure to properly organize your writing and include an introduction, headings/subheadings for the body of your work associated with each of the numbered items above, your analysis/suggestion, and a conclusion. Utilize the textbook and at least two outside scholarly, peer-reviewed articles from the CSU Global Library. Be sure to cite your sources on a reference page. Format your entire paper according to the CSU Global Writing Center (Links to an external site.) (Links to an external site.).