Effectively managing a project is a many layered process and effort, and there are a number of components that need to be effectively meted out by the project management team leader as well as by individual members of the project management team, or by groups of project management team members, at the assignment of the project management team leader. One extremely important means in which it must be accomplished would be to record and document a very thorough listing of the entirety of the plan. This includes all things being worked with and people being worked with. The process of recording these items in one convenient and easy to document location is referred to as the process of plan contracting. Specifically, plan contracting refers to the process of making a careful documentation of products, services, and all series of results requirements as well as a careful and thorough listing of potential future sellers.

This term is defined in the 3rd edition of the PMBOK but not in the 4th.

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