Analytical techniques are a tool and technique of which process in Project Procurement Management?

According to the PMBOK® Guide, specifically within the Project Procurement Management knowledge area, Analytical Techniques are a primary tool and technique used during the Plan Procurement Management process.

Purpose of Analytical Techniques: In this process, analytical techniques are used to help the project manager and the team determine the best strategy for acquiring goods and services. The most critical application is the Make-or-Buy Analysis.

Make-or-Buy Analysis: This technique determines whether a particular work can best be accomplished by the project team or should be purchased from outside sources. It considers both direct and indirect costs. For example, a " buy " decision might be influenced by a lack of in-house expertise, while a " make " decision might be driven by the need to keep proprietary information confidential.

Other Applications: Analytical techniques may also include evaluating various contract types (e.g., Fixed Price vs. Cost Reimbursable) and assessing the financial health or past performance of potential sellers to mitigate procurement risks.

Comparison with other options:

B. Control Procurements: The tools for this process focus on managing procurement relationships and monitoring contract performance, using tools like Claims Administration and Data Analysis (specifically Performance Reviews).

C. Conduct Procurements: This process focuses on obtaining seller responses, selecting a seller, and awarding a contract. Its primary tools include Bidder Conferences, Proposal Evaluation Techniques, and Advertising.

D. Close Procurements: In the current PMI standards (specifically the PMBOK® Guide 6th Edition and beyond), the activities for closing procurements have been integrated into Control Procurements and Close Project or Phase. The tools used for final administrative closure focus on Procurement Audits and Negotiated Settlements.