Procurement Management PM03.50

This class covers how to effectively procure goods and services from vendors and suppliers. The course first examines the six process areas of procurement from the PMBOK® Guide (Project Management Book of Knowledge, Third edition) to establish the procurement framework. The procurement management process is then explored to understand the steps necessary for effective negotiation and acquisition. The students will learn all aspects of the procurement management process including team member selection, risk identification and assessment, contract types, selection of a qualified seller and response evaluation, and contract execution.

Prerequisites

  • None

Learning Objectives

  • Learn the six process areas of procurement from the PMBOK® Guide

  • Understand the steps for planning the procurement process

  • Quantify risk and other factors for selecting the right contract type

  • Create the Procurement Management Plan

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

  • How to document evaluation criteria and utilize for evaluation of selected seller responses

  • Understanding the contract process from creation to closure

Who Should Attend

  • Project Managers responsible for project procurement activities

  • Purchasing & Procurement professionals

Course Outline

  • PMBOK® Guide Procurement Management Processes

  • Planning Purchases & Acquisitions

  • Plan Contracting

  • Request Seller Responses

  • Select Sellers

  • Contract Administration

  • Contract Closure

  • Managing People & Expectations

  • Process Improvement

Class Length

  • Two days (16 PDUs)