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Procurement management is specifically concerned with the processes related to acquiring goods and services needed for a project. This aspect involves planning for procurement, conducting procurement processes, and managing contracts throughout the project lifecycle. Effective procurement management ensures that all necessary resources are available when needed, which is crucial for achieving project objectives and maintaining project schedules.

This process includes not just the acquisition itself, but also determining the quantity and quality of the goods or services required, sourcing suppliers, negotiating contracts, and ensuring that all acquired resources align with the project's goals and deadlines. Hence, focusing on procurement allows project managers to strategically manage resources, reduce risks associated with supply chain issues, and contribute to the overall success of the project.