According to the PMBOK® Guide, the Conduct Procurements process is the process of obtaining seller responses, selecting a seller, and awarding a contract. It is the execution phase of procurement management.

Selected Sellers: This is a primary output. These are the sellers who have been judged to be in a competitive range based upon the outcome of the proposal or bid evaluation. The process culminates in the finalization of the contract and the official selection of the vendor(s) who will provide the goods or services.

Other Key Outputs of Conduct Procurements:

Agreements: The formal documents (contracts) signed between the buyer and seller.

Resource Calendars: Documentation showing when the contracted resources (people or equipment) will be available.

Change Requests: Proposals to modify parts of the project management plan or its subsidiary plans based on the terms of the new agreement.

Project Management Plan Updates: Specifically to the cost baseline, schedule baseline, and procurement management plan.

Analysis of Other Options:

A. Project statement of work (SOW): This is now commonly referred to as the Procurement Statement of Work. It is an input to the Conduct Procurements process (created during Plan Procurement Management) to tell the sellers what is required.

C. Risk register updates: While the risk register can be updated during many processes, it is a secondary update and not the primary defining output of the selection process itself. Option B is the definitive direct output.

D. Teaming agreements: These are legal contractual agreements between two or more entities to form a joint venture or partnership. These are typically established before or during the Plan Procurement Management phase or as an input, rather than being the final output of the selection process.