This course is a result of 25 years of consulting project and portfolio management experience, including engagements with various vendors, from smaller on-site teams to the major players of the industries. We will start this course with a brief overview of the project manager’s responsibilities and the role of the procurement management plan in the overall project plan. We will then focus on the four pillars of procurement management including planning procurement management, conducting procurement, controlling procurement and closing the procurement.

Then we will discuss the key sections of the project procurement plan that include: Procurement Definition/Procurement Requirements, Type of Contract, Procurement Risk Management, Cost Determination, Procurement Constraints, Contract Approval Process, Decision Criteria and Vendor Management.

Next, we will discuss various forms of the procurement requirements document, from a simple list (e.g. bathroom renovation project) all the way to a detailed requirements specifications document (e.g. ERP replacement project). We will also talk about various types of contracts available to the project team including fixed-price contracts, cost-plus reimbursement contracts and time and materials contracts as well as the risks associated with them.

Also, we will discuss various procurement risk identification, analysis, management and monitoring techniques followed by a detailed example from my real-life project. Subsequently, the course will focus on the cost identification techniques (e.g. annual licensing cost, annual support cost, implementation cost, recurring annual fees, one-time fees, etc.)

We will finish the course by talking about the typical procurement constraints and decision criteria for vendor selection.