Procurement Management or contracting is one of the nine knowledge areas identified in the Project Management Institute (PMI®) standard, A Guide to the Project Management Body of Knowledge (PMBOK™ Guide). It deals with establishing and managing relationships between customers and suppliers, from the customers’ perspective.
Contracting for Project Managers builds on the Successful Project Management course and introduces students to the six procurement processes. Through lecture, workshop and discussion, students learn the fundamentals of managing procurement in project environments.

By taking this course you will be able to:

• understand the purpose and processes of procurement management
• use common contracting definitions, terms and conditions
• know how to approach the market to procure goods and services (buyer perspective)
• understand the process of evaluating and responding to an tender opportunity (seller perspective)
• evaluate solicitation responses and select a supplier
• know how to administer and close out a contract

CFO's, Project managers and anyone who works with projects in a management or support role that covers/includes contracting/procurement processes, especially as related to projects.

Procurement Overview

• Procurement management definition
• Common contract terms and definitions
• Overview of Procurement processes
• Centralised vs. decentralised contracting

Procurement Planning

• Defining scope
• Make or buy decision
• Defining requirements
• CWBS

Solicitation Planning

• Developing a procurement plan
• Preparing for solicitation
• Contract types

Solicitation

• Bid/no bid decision-making
• Solicitation response
• Buyer & seller activities

Source Selection

• Evaluation criteria
• Contract negotiation

Contract Administration

• Key contract policies
• Managing performance
• Responding to non conformance
• Documentation
• Change management
• Claims and disputes

Contract Closeout

• Termination
• Contract close out activities

Strongly recommended that students complete Successful Project Management

2 Days