Most projects typically require goods and services that must be acquired from outside the project team. This includes materials, equipment, consultants, and other products or services. Managing project procurements and contracts is an essential skill for the project manager in order to achieve the best value for the project. This course provides skills development training in managing the project procurement process covering the full procurement cycle using the standards and guidelines defined in A Guide to the Project Management Body of Knowledge (PMBOK), published by the Project Management Institute (PMI). Topics include planning for procurements, sourcing qualified vendors, creating the procurement documentation, selecting the most appropriate type of contract for the project, preparing requests for proposals, requesting proposals, evaluating proposals, negotiation, vendor selection and contract award, managing contract administration, and contract closeout. This course also provides an overview of issues and risks related to managing procurements and contracts which the project manager must consider with practical strategies on how to address them. Instruction and industry examples of these methodologies are provided in an interactive format. 15 PDU credits from PMI are earned.
Upon successful completion of this course, students will be able to:
Effective as of Fall 2005
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