Project Procurement Management

Course overview

Discover the critical actions in procuring outside services and products — from the initial decision to buy through final contract closeout. Recognize what must be done for success in the six key project procurement management processes: procurement planning, solicitation planning, solicitation, source selection, contract administration, and contract closeout. Formulate the make-or-buy decision, prepare an effective procurement management plan to guide the team, and use outsourcing for maximum benefit. Lessons and best practices from procurement theory and experience are also presented.

Prerequisites

• Formal project management training such as that available in the Project Management Fundamentals (HC577S) course plus other core project management courses

Audience

This course is intended for project managers interested in best practices that apply to diverse projects in multiple industries. It is especially suited for people seeking project management certification.

Course objectives

Learn how to:

• Conduct a make-or-buy analysis
• Prepare a procurement management plan
• Recommend specific contract types
• Use outsourcing effectively quality
• Establish a partnering program
• Perform a successful evaluation
• Work effectively in contract negotiation
• Manage seller performance
• Recognize what must be done for contract closeout
• Develop lessons learned

Next steps

• Managing Multiple Projects (HE549S) or other advanced Project Management topics leading to recognition of your knowledge and skill by passing the Project Management Professional (PMP) certification appropriate to your country or region

Benefits to you

• Define and describe the procurement process
• Recognize the necessity and tools of procurement management
• List the principles and advantages of outsourcing and partnering
• Develop the documents required for a solicitation
• Perform a solicitation

Course outline

Overview And Procurement Planning

• Explain the relationships between projects and contracts
• Describe the necessary elements of a successful procurement process
• Incorporate the project scope statement and WBS as inputs to the procurement management plan

Outsourcing And Partnering

• Identify the reasons for outsourcing and the phases in the outsourcing process
• Identify benefits of partnering and establish effective partnering agreements
• Explain the Software Acquisition CMM®

Solicitation Planning

• Develop specific product and service specifications for solicitations
• Develop evaluation criteria
• Identify steps in preparing procurement documents

Solicitation

• Identify sources of prospective sellers
• Establish key principles for conducting a bidder’s conference
• Establish protocols for communicating with prospective sellers

Source Selection

• Organize evaluation teams
• Develop evaluation weights and scores
• Determine what must be done for successful contract negotiation and award

Contract Administration

• Define contract administration
• Identify roles and responsibilities for the project team, contracting organization, and sellers
• Manage seller performance

Contract Closeout

• Complete contract documentation
• Provide formal acceptance and closure to sellers
• Perform a “lessons learned” analysis