Which of the following activities falls under Procurement Management?

Procurement Management involves acquiring the goods, services, or results needed from outside the project team to complete the project. Finding contractors to assist in project tasks is a critical aspect of this process, as it typically entails identifying, evaluating, and selecting external resources required for the project’s success. This activity encompasses not just the selection of contractors, but also includes managing contracts and ensuring that the procured resources meet the necessary standards and requirements.

In contrast, activities such as monitoring and controlling project work focus on the oversight of ongoing project activities rather than acquiring resources. Conducting risk assessments pertains to identifying and analyzing risks that could affect the project, while establishing communication plans relates to outlining how information will be shared among stakeholders. These tasks, while essential for comprehensive project management, do not specifically relate to the procurement of resources. Thus, the focus on finding contractors is what clearly defines the procurement aspect in this scenario.