Procurement & Contract Management
A critical aspect of project management involves negotiating with vendors, suppliers and
subcontractors external to the project. A thorough understanding of procurement and contract
management is an essential skill for today’s project manager.
After establishing a common understanding of project management, the course covers the various
activities that make up a contract life cycle. These activities include: understanding the enterprise
outsourcing strategy; outsourcing requirements, advantages and disadvantages; make/buy/lease approach
to outsourcing; the legal aspects of contracting; the importance of defining a solid statement of work
for the contract; the risk and reward of strategic teaming agreements; contract planning and
scheduling, and contract performance from the client-supplier perspective. The course will also cover
negotiating strategies and successful supplier management.
Course material employs the Project Management Institute’s (PMI®) terminology and covers processes &
knowledge areas that are consistent with “A Guide to the Project Management Body of Knowledge (PMBOK
Guide®).” Although the course focuses on the formal contractual relationship between a buyer and
seller, many of the concepts can be applied to non-contractual, formal agreements that are made within
the organization.
Audience
Project managers, program managers, project leaders, key stakeholders and critical project
team members who deal with outside suppliers or consultants and wish to improve their understanding of
procurement and contract management.
- Project Management Overview or a similar introductory course
Introduction
- Project Management Framework
- Project Life Cycle and Organization
- Project Management Processes
Procurement Management
- Plan purchases & acquisitions
- Plan contracting
- Request seller responses
- Select sellers
- Contract administration
- Contract closure
The Contract Process
- Requirements definition
- Make or buy decision
- Statement of Work
- Types of contracts
- Contract life cycle
- Negotiating strategies
- Supplier management
In order for a class to be successful, all students should share the same general level
of knowledge and experience. If a participant does not demonstrate these, the instructor will take
the necessary steps either to prepare the participant or place him/her in a more appropriate course.
This policy is intended to maintain the high level of quality control that you have come to expect.