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Berkeley Global
Procuring products and services is an essential part of a project manager's responsibilities. Learn the fundamentals of the procurement process, from developing procurement documents and specifications to evaluating vendor proposals, crafting appropriate contracts and overseeing successful execution of contracts. Examine a variety of contractual arrangements and fee options.
Prerequisites:
Project Management BUS ADM X470
Course Outline
Expand or collapse section
Course Objectives
- Understand the processes of cost management and procurement management
- Create and refine activity effort and cost estimates
- Define and use project cost metrics, including Earned Value Management (EVM) and project return on investment (ROI)
- Aggregate project costs and develop a project budget
- Assess and initiate project procurement to engage external resources
- Define the types and components of a contract
- Negotiate and finalize a contract
- Monitor and control project costs and manage project procurements
What You'll Learn
- PMBOK® and PMI tools
- Cost estimating (internal and external labor, materials, equipment, travel, communications, overhead, etc.) and refinement
- Delphi technique
- Using spreadsheets and software tools for project cost management
- Cost metrics and Earned Value Management (EVM)
- Alternatives to EVM
- Project budgeting
- Cost aggregation
- ROI analysis
- Negotiating project budget changes
- Validating project funding with sponsor, stakeholders
- Procurement planning selection requirements and criteria
- Projects undertaken on a contract basis (providing outsourced services)
- Request and evaluation of Proposals (RFPs) and Statement of Works (SOWs)
- Contract negotiation and award process
- Cost and procurement control and close-out
- Ongoing risk management
How You'll Learn
- Lectures
- Team projects
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Sections
Spring enrollment opens on October 17!