Write a 1400- to 1750-word paper in which you explain theprocess for conducting and closing procurements. Include thefollowing: Outline and explain high-level process steps forconducting project procurements. Outline and explain contractadministration policies and procedures. Describe tools andtechniques for the contract administration process including thefollowing: o Contract change control process o Procurementperformance reviews o Inspections and audits o Performancereporting o Payment process (n/30 n/60 and so forth) o Recordsmanagement system (RMS) Describe conflict resolution techniquesused while managing contractual relationships. Outline steps tobe taken to close out project procurements. Explain theimportance of closing project procurements and accounts. Examineexternal influences on the procurement and risk management process. Analyze the relationship between the risk response plan and theexternal influences. Format your paper consistent with APAguidelines.