PM7000-8 Project Procurement Management

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Graduate students will learn the strategies and materials needed by the project team to complete the tasks. The final evaluation will include the contract management and change control process required to complete the contract or purchase order.

In terms of project management, procurement refers to situations where you need to purchase, rent or sign contracts with some external resources to achieve the goals of your project. As with any process in a project, these relationships need to be managed.

Managing these relationships means getting the best possible quality from external suppliers hired by the company to assist them in their business. There are some cost and time constraints in dealing with suppliers. Procurement management is a more efficient way to manage procurement, procurement, ordering, urgency, review and approval processes.

However, before establishing a partnership or making a purchase, it is necessary to answer whether the external supplier should provide goods and services. Therefore, weigh the pros and cons of in-house production of goods or services and outsourcing. It includes the relationships with external companies necessary and cost-effective in the long term. Only by making a wise decision will you be able to move forward with confidence, being confident that the steps you take are financially reasonable and on schedule.

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