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This class will detail the management of procurement activities throughout the project lifecycle.  The Knowledge Area of procurement management from the PMBOK® Guide will be used to establish the procurement framework. Then the elements needed during each stage in the project lifecycle for procurement management will be explored. The students will learn all aspects of the procurement lifecycle management process including understanding the relationship of the buyer and seller, determining the correct contract type for each procurement situation, selecting a seller and monitoring and controlling the execution of the contract. These concepts are discussed as they would be encountered across the project management processes (manage risk, manage quality, etc.) and project lifecycle (analysis, design, construct, etc.). This helps the students better understand how to apply procurement concepts and techniques across their real-life projects.   

Prerequisites

• None

Learning Objectives

• Learn the processes of procurement from the PMBOKÒ Guide

• Discuss the basics of procurement and the buyer/seller relationship

• Structure and plan a project with a vendor component

• Plan and execute a seller selection process

• Understand the vendor component in the remainder of the project

• Develop procurement documents for soliciting seller requests (e.g. RFI, RFP, RFQ)

• Monitor and control the entire project, including the vendor work

• Understanding the contract process from creation to closure

Who Should Attend

• Project managers responsible for project procurement activities

• Purchasing & Procurement professionals

Course Outline

• PMBOKÒ Guide Procurement Management Processes

• Basics of Procurement

• Define and Plan the Project (with sellers)

• Execute the Project (with sellers)

• Define and Execute Seller Selection Process

• Execute the Remainder of the Project (with sellers)

• Monitor and Control the project (with sellers)

Class Length

• One day