Project Procurement Masterclass
Master all the vital procurement elements. Grasp the essentials of planning, managing and controlling any procurement, buyout or contracts within your project.
Grow your PM Skills with the Project Procurement Masterclass.
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Project Procurement Masterclass
definitions. I teach you the procurement and organization Flowchart and walk you through process strategy, and contractual relationships.
You will learn the five procurement payment structures, along with their advantages and disadvantages, and I will explain milestone payments. I walk you through the strategy for selecting a suitable supplier and introduce you to the supplier evaluation weighted scoring system. We finish off by examining the key control areas for a procurement endeavour
In this module, I cover the procurement negotiation fundamentals and how these works with both informal and formal negotiations. You will learn in detail the four negotiation process steps.
In this module, I demonstrate the procurement management plan and explain the procurement statement of work. I explain the make-or-buy analysis and the use of purchase and acquisition tools. We cover the right approach for introducing change within a contract
You will learn the different types of contracts, including fixed-price contracts, cost reimbursable, Time &Materials, plus the advantages and disadvantages of each. I explain in detail how to calculate the point of total assumption (PTA).
We continue on from the previous module covering contract types. I discuss typical procurement documents and the fixed-price incentive fee contract. I show you how to calculate such a contract and give you a real-world example of a fixed-price incentive fee. We finish off with a summary of the various different contract types.
In this module, you and I look at seller selection and control. We first study different types of server evaluation criteria, and deep dive into the eight seller selection techniques. I cover the three steps for the negotiation process itself and showcases how to control procurements. Here I demonstrate and explain the seven tools used for procurement control.
Finally, I show you how to close procurements in a structured manner. We step through the eight close procurement activities and summarize the key points. Finally, to test your understanding of all the project procurement modules we have covered , I give you a 12 question quiz by providing typical exam questions. Of course, you'll also get the answers!
As you would expect, all contract structures and terminology will vary dependent upon the industry and sector within which they are being used. Note that this contract originated from within the construction industry, and therefore some of the terminology and environment details will need to be modified
ALWAYS seek professional advice before contract placement.
About the teacher
David spent 25 years as a senior project manager for USA multinationals, and has deep experience in project management. He now develops a wide range of Project Management Masterclasses, under the Projex Academy brand name. In addition, David runs project management training seminars across the world, and is a prolific writer on the many topics of project management.