Project Procurement Management (PMP08)
Negotiating contracts or defining the activities required by a vendor ensures a cost-effective project has the resources needed to meet challenges. Develop contracting strategies and the respective roles of the project and procurement departments in negotiating, administering, managing and closing contracts. Concepts include the procurement life cycle, basic components and types of contracts, evaluation approaches, and vendor relationship management. Students will apply various techniques, including making or buying analysis, selection of contract types, risk mitigation using procurement strategies, and procurement performance reviews and audits.