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Project Cost and Procurement Management
Duration
2 Days
Course
PMPM-155
Available Formats
Classroom Training, Online Training
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
- Cost estimating using the Work Breakdown Structure
- Creating a cost baseline
- Cost control
- Earned Value 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
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- Standalone learning or supplemental reinforcement.
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title
Please take a moment to fill out this form. We will get back to you as soon as possible.
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