Project Procurement Planning

Overview/Description
 "You want what? When?" Project managers know they are in trouble when they hear these questions from either a contractor or a project team member. To avoid this and other potential procurement nightmares, project managers should ensure that they have followed the tried and tested processes of project procurement management. This series is aligned with "A Guide to the Project Management Body of Knowledge" (PMBOK ® Guide), published by the Project Management Institute (PMI ®). After the completion of these courses, you will have the tools required to improve your project procurement management." Following the outline of the Project Management Institute's Project Management Body of Knowledge this course will introduce learners to the fundamentals of procurement planning.

Target Audience
 This series is specifically targeted at project managers, team members, functional managers, stakeholders, or any executive committed to their organization's growth.

Expected Duration
2.0 hours

Lesson Objectives:

Inputs to Procurement Planning

  • identify the benefits of using procurement planning inputs.
  • identify components of a scope statement.
  • identify examples of issues that should be included in a product description.
  • identify market condition factors and resources that influence a project team's procurement planning decisions.
  • identify other planning outputs that must be managed during procurement planning.
  • identify examples of constraints and assumptions that may potentially alter procurement activities.

    • Tools and Techniques for Procurement Planning

  • identify the benefits of using the tools and techniques for procurement planning.
  • determine whether making or buying is in the best interests of a given company.
  • determine whether renting or leasing a product is in the best interests of a given company.
  • determine where to extract expert judgment from potential resources for procurement planning for a given example.
  • choose the most appropriate contract type for a buyer and seller scenario.

    • Outputs from Procurement Planning

  • identify the benefits of using the outputs from procurement planning.
  • identify the issues a project manager needs to address in a procurement management plan.
  • identify the necessary components of a project in a statement of work.

    • Course Number: PROJ0301