Course Description

This course provides students a detailed view of the processes used to acquire resources, to complete projects, and to ensure fulfillment of requirements. Students are introduced to the procurement acquisition and contract processes of project management, and to the details on contract administration. A systematic approach will aid students in developing an in-depth understanding of procurement and contracting issues from the standpoint of both buyers and sellers of products and services needed to complete project work. This course is 100% compliant with the Project Management Institute’s (PMI’s®) current Project Management Body of Knowledge (PMBOK®).

Learning Objectives:

• An Operational Model for Procurement and Contract Management - understand operational definitions, terms, concepts, and techniques

• Contract Selection - evaluate the various types of contracts to determine which will best represent the relationship between the buyer and seller

• Contract Administration - develop a process to maintain the integrity of the buyer-seller engagement; implement a formalized contract change control process

• Procurement & Contract Management Plan Development - create a customized overview plan of participants’ processes using statements of work, procurement documents, bidding processes, and state-of-the-art thinking to maximize procurement and contract management results.

• The vocabulary, and fundamental concepts of procurement and contracting

• Project procurement and contract management methods, tools, and techniques

• The various types of contracts and pricing models, their strengths and weaknesses, and when they should best be used

• Procurement and contract management issues from the unique perspectives of the buyer and seller.