Project Management

Project Contracting and Procurement

• Traditional Classroom: 2-day
• Virtual Instructor-led: Four 3-hour sessions

This course is designed to guide the acquisition of required project goods and/or services by establishing a detailed Procurement Management Plan. Participants will identify the various contract types, proposal documents, supplier evaluation criteria, work objectives, and legal considerations for all procurements. The course uses individual exercises combined with interactive group discussions and team workshops to allow participants to apply best-practice project procurement and contracting methodology.

Target Audience

Individuals who will benefit from this course include project managers/leaders, contract and operations managers, and procurement department teams.

Leanring Objectives

• Learn comprehensive procurement and contracting methodology based on the latest PMI^® PMBOK^® Guide best practices and International Association for Contract and Commercial Management (IACCM) standards.
• Develop a Procurement Management Plan.
• Promote project success with appropriate procurement selection and management.
• Apply key knowledge and skills to establish and manage procurement contracts to completion.

Course Outline

Module 1: Procurement Overview

• Procurement Terminology and Definitions
• Procurement Principles and Benefits
• Procurement Roles and Responsibilities
• Procurement Categories and Methodologies

Module 2: Procurement Preparation

• Procurement Analysis and Justification
• Project Considerations and Impacts
• Procurement Scope and Requirements
• Procurement Management Plan

Module 3: Procurement Sourcing

• Sourcing Options and Strategies
• Sourcing Selection Criteria
• Identifying Potential Procurement Sources
• Procurement Sourcing Documents

Module 4: Source Selection and Contracting

• Competitive Source Bidding Options
• Unsolicited and Sole-Source Proposals
• Source Proposal Response Evaluation
• Types of Contracts and Associated Risks
• Contract Legality and Jargon
• Contract Structure and Elements
• Intellectual Property and Confidentiality
• Contract Negotiation and Awarding

Module 5: Contract Management and Administration

• Contract Execution and Payment
• Contract Change and Quality Control
• Contract Performance Review and Reporting
• Contract Disputes and Claims Resolution

Module 6: Procurement and Contract Closing

• Procurement Audits
• Negotiated Settlements
• Mediation and Arbitration
• Contract Termination
• Contract Closing Procedures and Checklist
• Contract Closing Report

MDP590A Course Code