In this course, you will learn how to manage all aspects of project procurement effectively. You will discover the logic behind contracting principles and practices, and you’ll learn the terms, techniques, and tools of converting project needs into outsourced goods and services. You will learn to ensure successful procurements by gaining an understanding of the roles, responsibilities, and expectations of the internal and external stakeholders involved in the procurement chain.
In this skills-building course, you will be working on contracting activities, from requirements documentation through to contract closure. Exercises include the development of a procurement strategy, contract selection, revising and updating SOWs, risk management, negotiating claims settlement, and collection of lessons learned
• Steps and stages of contract management from needs analysis to closure
• Terms and terminology of contracting and procurement
• Legal requirements of contracts and their implications
• Ingredients for contracting success
• Stakeholder mapping and expectations analysis
• Converting project objectives to contract requirements
• Applications and weaknesses of contract types
• Risk transfer through contracting terms and conditions
• Impact of subcontractors
• Procurement planning from needs analysis through to creation of bid packages
• Importance of the SOW
• Procurement process including bid packages, source selection, and awarded contracts
• Contracting paper trail and the time requirements for the steps involved
• Negotiation principles
• Administering contracts: Taking awarded contracts through to completed work
• Communication feedback loop
• Performance monitoring
• Contract change control principles
• Claims administration
• Contract closure from completed work to creation of a contract archive
• Early termination clauses
• Lessons learned best practices
• Contracting problems and their solutions
The format of this course is 100% online. Prior to the start date of the course, an email will be sent to all registered students containing instructions on how to access the online Learning Management System.
Certificate of Completion is available upon finishing studying the course.
To qualify for your Diploma, Certificate or PDF you must study and complete all modules and score 70% or more in each of the course assessments.