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The followings are the major process for purchase to installation and validation of capital assets.
1. Need assessment and preparation of specification
2. Preparation of bidding document
3. Soliciting of bid
4. Receipt and opening of bid
5. Bid Evaluation
6. Meeting of tender committee to award the work
7. Issuance of Purchase order or Work order
8. Receipt of goods from the supplier
9. Inspection of goods to conform specification
10.Pre- installation work i.e. bed preparation or electrical or any civil works necessary
11.Actual installation of equipment by the supplier and training of the operator
12.Formal commissioning and handover of the equipment
Validation as capital asset: Purchase order value+ Pre-Installation cost+ any other cost related to installation. Send this figure to Accounting Department for recording as asset value
PMI says that project manager should use following knowledge areas
scope, time, cost, quaity, HR, communication,risk,stakeholder management, integration management for accomplishment of any product/project
It is vast field and with good experience and skills, one can properly manage these all
