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Project Cost and Procurement Management

Course content updated by LearnQuest
Price
1,400 USD
2 Days
PMPM-155
Classroom Training, Online Training
Limited Time Offer
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  • Date: 14-Nov-2022 to 15-Nov-2022
    Time: 9AM - 5PM US Eastern
    Location: Virtual
    Language: English
    Delivered by: LearnQuest
    Price: 1,400 USD
  • Date: 6-Feb-2023 to 7-Feb-2023
    Time: 9AM - 5PM US Eastern
    Location: Virtual
    Language: English
    Delivered by: LearnQuest
    Price: 1,400 USD
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Course Description

Overview

Today, more companies are outsourcing large 'pieces' of projects to third parties. The need for procurement management has never been higher. When part of a project is bought from another organization, an additional layer of complexity and risk is introduced to the project. Procurement and Cost Management focuses on the special requirements of projects involving external contracting. This course also provides the basics for effectively managing the financial aspects of the project. Through group discussion, workshops and real world examples, participants use tools and basic methods for identifying, estimating, tracking and managing all project costs.

14 Professional Development Units from the Project Management Institute®
 

Objectives

Upon completion of the Project Cost and Procurement course, students will be able to:
  • Understand the procurement and contract process
  • Assess activities that should be done in-house
  • Prepare an RFP (Request For Proposal)
  • Conduct negotiations for the project
  • Understand and develop project budgets

Audience

  • Business Users

Prerequisites

    • None

Topics

  • Project Cost Management
    • Cost estimating using the Work Breakdown Structure
    • Creating a cost baseline
    • Cost control
    • Earned Value Management
  • Procurement Management
    • Contracting basics
    • Planning Procurement Management
      • Make vs. Buy decision
      • Contract types
      • Risk associated with type of contract
      • Prepare a Statement of Work
      • Prepare a Request for Proposal
    • Conduct Procurements
      • Selection criteria
      • Contract negotiation
      • The negotiation map
      • Prepare for negotiation
      • Tactics
      • Finalizing the contract
    • Contract administration
      • Contract changes
      • Disputes
    • Contract Closure
  • 2021 Top 20 Training Industry Company - IT Training

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