Planning Project Procurement Management (PMBOK® Guide Fifth Edition)

Overview/Description
Projects routinely require materials, consultants, training, products, and equipment, along with many other types of goods and services. Project procurement is the process of purchasing products and services necessary to fulfill the objectives of a project. Procurements must be carefully planned and administered to ensure they do not cause a project to go over budget or fall behind schedule. In this course, learners will gain an understanding of what processes are involved in planning project procurement and how these processes interact with the overall project life cycle. Common tools and techniques for planning project procurement will be covered, including make-or-buy analysis. Learners will be introduced to the process of developing a procurement management plan and determining which procurement contract best suits the project's needs, which are both vital to ensuring a project manager is able to procure the products or services for project success. This course will assist in preparing learners for the PMI® certification exam. 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®.

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)
1.5

Lesson Objectives

Planning Project Procurement Management (PMBOK® Guide Fifth Edition)

determine whether a given contract term will reduce the risk for the buyer or for the seller

label individuals in a scenario as either buyer or sellers

match the Project Procurement Management processes with their associated project management Process Groups

match each procurement planning input to the description of how it is used in the procurement planning process

classify agreements as either fixed price, cost-reimbursable, or time-and-materials contracts

determine the best course of action between making, buying, or leasing a product, given cost data

identify the tools and techniques used to plan procurement management

recognize examples of information found in the outputs of the Plan Procurement Management process