Rationale

The procurement and contracting process is central for all businesses in order to grow and survive within the competitive market and achieve their objectives.  Hence, this course will introduce students to the project procurement cycle and process so as to expose them to the procurement activities within a project, ranging from purchasing decisions for materials or services to bill payments and the closing of procurement contracts. The course will examine concepts such as: the importance of strategic sourcing, the bidding and contracting process, negotiations and contract management and emphasise on the challenging issues that affect the evaluation, selection and monitoring of procedures involved in these activities.

Learning Outcomes

At the end of the course students will be expected to:
(i)    Describe how to lead the activities of procurement and contracting.
(ii)   Define the activities and explain their significance within today’s businesses and specifically in the project management process. 
(iii)  Evaluate partnership opportunities through strong relationships with project stakeholders and contractual partners. 
(iv)  Articulate the phases of the project procurement procedure.
(v)   Determine the procurement management plan.
(vi)  Identify the various types of contracts and the necessary metrics in order to measure the contractors’ performance.
(vii) Define strategic sourcing and bidding as part of the negotiation process, in the context of project management.
(viii) Recognise the necessary company documentation used in such contacting activities.
(ix)  Explain the purchasing process and its impact on the project plan. 
(x)   Explain how to select the appropriate purchasing process for each type of goods or services.