MDP274a – Project Procurement Management
This course is designed for project managers who will have procurement responsibilities and for those whowill interact with designated procurement professionals. The objective of Project Procurement Management is to prepare the project manager and project management team to effectively manage the procurement and contracting aspects of a project. The course begins with introductory sections explaining legal concepts of contracts and contract pricing. Then the Project Procurement Management Knowledge Area processes are presented: Plan Procurements, Conduct Procurements, Administer Procurements, and Close Procurements. The processes in Project Procurement Management are initiated early in the project – with a procurement management plan – and are ongoing throughout the life of the project. Although this course focuses on procurement from the buyer’s perspective, the final section explores procurement from the seller’s point of view. This course is 100% compliant with the Project Management Institute’s (PMI’s®) current Project Management Body of Knowledge (PMBOK® Guide).
Who should attend
This course is primarily designed for project managers who wish to enhance their understanding of the
project procurement and contract management processes. Individuals taking this course should have at
least two years of experience working on project teams.
What you will achieve
- An understanding of: 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
What you will learn
- An Operational Model for Procurement and Contract Management – understand operational
definitions, terms, concepts, and techniques
- Plan Procurements – 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
- Conduct Procurements – Evaluate the various types of contracts to determine which will best
represent the relationship between the buyer and seller
- Administer Procurements -– Develop a process to maintain the integrity of the buyer-seller
engagement; implement formalized contract change control process
- Close Procurements – Specify the Structure of a Records Management System used to conduct
administrative activities to reflect final contract results.