Construction professionals are always keen to understand about procurement methods practiced in industry. Therefore analyzing requirement and characteristics of procurement system is very vital.
Core objective of a procurement system is identifying responsibilities and task for of each and every participant in a signed project. Before looking at types of procurement, one should know what the functions are carried out in construction industry and parties involved with it.
Generally, five functions are undertaken in a project. They are design, build, management, finance and operation. It can be understood that, a procurement system defines scope or responsibilities of each parties (Client, Consultant & Contractor). In other words, procurement system is very important term to understand properties of construction contract.
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