Procurement and Risk Management
Course Description
This course explores the procurement planning process, contracting methods and phases, outsourcing, contract administration, and the external environment of the procurement management processes. The course also addresses risk management applied to both project and procurement management processes.
Topics and Objectives
Procurement Overview and Risk Management
- Define procurement management.
- Analyze the relationship between procurement management and project management.
- Define risk management.
- Explain the relationship between risk management and project management.
Procurement Planning Process
- Evaluate the process for developing a request for proposal (RFP).
- Describe the roles and responsibilities of a contract administrator, procurement agent, and project manager.
- Identify the key components necessary in response to an RFP.
- Explain the role of risk management in the procurement planning process.
- Identify supplier or solicitation and selection criteria.
Contracting Process
- Identify types of contracts for various situations.
- Identify contract award criterions.
- Explain the role of risk management in the contracting process.
- Analyze ethical issues related to the contracting process.
Contract Administration Process
- Describe contract administration policies and procedures.
- Explain the role of risk management in the contract administration process.
External Influences on the Procurement Management Process
- Examine external influences on the procurement management processes.
- Demonstrate how effective procurement management leads to successful outsourcing.
- Evaluate an existing procurement management process within an organization.