The more complex a project is, the more likely it is that you’ll need help from outside vendors and partners. Enter project procurement, the processes of planning, managing, and executing purchases of goods and services for your business. In this course, PMP Bob McGannon guides you through the project procurement process, helping you understand if procurement is right for your project, exploring common procurement approaches, and explaining the different procurement contract types, including fixed price, cost plus, and time and materials (T&M). Learn how to plan your procurements wisely with payment scheduling options, and discover methods for reducing risk. Then check out market-testing techniques for soliciting potential vendors and partners, and examine solicitation agreements such as the request for information (RFI), the request for quotation (RFQ), and the request for proposal (RFP).Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc. Topics include: What is project procurement?
Should you buy or build?
Putting procurement tasks in your schedule
Understanding contract types
Ensuring flexibility with the statement of work
Exploring payment scheduling options
Testing your market
Using RFIs, RFQs, and RFPs
Overcoming challenges