Managing Procurements (PMBOK® Guide Fifth Edition)

Overview/Description
Managing the procurement process can sometimes seem like a project all in itself, as it generally involves a number of detailed and time-consuming steps – from obtaining seller responses, selecting a seller and awarding the contract, to managing the procurement relationship. This is the second course in the Project Procurement Management Knowledge Area and covers three processes: Conduct Procurements, Control Procurements, and Close Procurements. Specifically, learners will be introduced to proposal evaluation techniques, procurement negotiations, and handling claims and disputes. The course will also cover the components of procurement documents and a contract file for controlling procurements, as well as techniques for closing procurements. This course is aligned with A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition, published by the Project Management Institute (PMI®), Inc., 2013. Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI®. This course will assist in preparing learners for the PMI® certification exam.

Target Audience
Existing project managers wishing to get certified in recognition of their skills and experience, or others who wish to train to become accredited project managers

Expected Duration (hours)
2.0

Lesson Objectives

Managing Procurements (PMBOK® Guide Fifth Edition)

match inputs to conducting procurements with descriptions of how they are used

match techniques for developing a pool of prospective sellers with situations when each should be used

match examples of procurement techniques with the stage of procurement in which they are used

recognize examples of the outputs of the Conduct Procurements process

match the inputs to the Control Procurements process with the information they provide

recognize examples of techniques for controlling ongoing project procurements

recognize examples of techniques for controlling project procurements when there are changes or disputes

match the outputs of the Control Procurements process to examples

recognize examples of information a project manager needs in order to close procurements

determine the appropriate procurement closure technique to use in a given situation

identify examples of the outputs of the Close Procurements process