Certified Meeting Professional (CMP) Practice Exam

What should the procurement plan first identify?

1. The project timeline

2. Goods and services needed to reach project objectives

3. The overall budget

4. Event participants and roles

The correct answer is: Goods and services needed to reach project objectives

The first step in a procurement plan is to identify the goods and services needed to achieve the project objectives. This is essential because understanding what is required lays the foundation for how to proceed with sourcing and acquisition. By clarifying the specific items and services necessary, event planners can assess what needs to be purchased or contracted, which directly impacts timelines, budgeting, and resource allocation. Once the necessary goods and services are identified, the planner can then align other elements such as the project timeline, overall budget, and roles of event participants, but these aspects are built upon the foundational understanding of what is required to meet the goals of the event. This approach ensures that all procurement activities are aligned with the overall objectives, leading to a more effective and organized planning process.