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Project Procurement
and Sourcing Management
(2 Days)

Course Description:
Selecting and managing vendors, suppliers and subcontractors external to the project team is a critical component of successful project management. In today’s environment where outsourcing of certain functions is also common, project managers need to understand the fundamentals of procurement and sourcing management.

After a review of the major processes of project procurement management, material will cover the “make” or “buy” decisions that occur during project scope planning, and the classification and tracking of procurements identified. Outsourcing will be included as part of the “make” or “buy” discussion and throughout the course where appropriate. Students will then learn about identifying and managing procurement risks and selecting the proper contract type. Within the three generic categories of contracts, different incentive and payment structures will be reviewed. The course will then move to the major phases of the procurement process and their coordination with the overall project schedule. Issues to consider when selecting prospective sellers, and seller evaluation techniques, will be reviewed. Students will also learn about typical contract clauses and terms as well as other legal aspects of procurements such as privity of contract and claims resolution.

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®).

Intended 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.

Participant should have completed the Project Management Overview or a similar introductory course.

Course Content:
  • “Make” or “Buy” decisions
  • Identifying and classifying project procurements
  • Corporate teaming agreements
Procurement Risks
  • Identifying and assessing risks
  • Seller risk management plans
The Contract Process
  • Selecting the right type of contract
  • Major contract categories
  • Types of contracts
Plan Procurements
  • Scope definition
  • Procurement scheduling, estimating & budgeting
Conduct Procurements
  • Statements of Work
  • Procurement Competition
  • Requests for Proposal
  • Seller selection
Legal Aspects of Procurements
  • Contract law, Agency law, & the UCC
  • Special contract terms
Administer Procurements
  • Contracts and Earned Value
  • Privity of contract issues
Close Procurements
  • Contract termination
  • Claims settlement
PMBOK Guide:
Knowledge Areas
  • Project Integration, Scope, Time, Cost, Risk, Procurement
Process Groups
  • Initiating, Planning, Executing, Monitoring & Controlling, Closing
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