Procurement and Contract Management in Projects (Classroom and Synchronous e-learning)
About This Course
Procurement and contract management are crucial competencies for any industry that relies on standardised processes and efficient execution for success. This course aims to equip learners with essential knowledge and practical skills in procurement and contract management from the buyer’s perspective. It takes learners through the five key stages of procurement and contract management: Initiate, Bid, Develop, Negotiate and Manage. It also emphasises analytical tools, negotiation planning and tactics, risk and opportunity management, and effective handling of contract changes and disputes. Application-oriented assignments, such as the development of contract negotiation plans, reinforce key concepts and enable learners to translate theory into practice in realistic project scenarios.
What You'll Learn
1. Apply procurement and contract management processes from a buyer’s
perspective to achieve win-win contractual relationships and successful project outcomes.
2. Apply Social, Technological, Economic, Environmental, and Political (STEEP) analysis to understand the market and inform effective buyer decision-making.
3. Use tools and techniques to meet the Five Key Milestones in the requirements definition process, ensuring clarity and alignment with project needs.
4. Differentiate the types of bidding vehicles and describe the key elements of international contracts in the context of procurement.
5. Develop and apply frameworks for evaluating supplier proposals.
6. Evaluate the suitability of various contract types, pricing arrangements, and risk and opportunity management strategies in organisational projects.
7. Plan and execute negotiation strategies and tactics tailored to different
contract management scenarios.
8. Utilise proven tools and techniques to monitor contracts, manage transitions, and ensure supplier performance throughout the contract lifecycle.
9. Proactively plan for and address contract changes, disputes, and contract
close-out, applying lessons learned to future procurement activities.
10. Work collaboratively to develop a contract negotiation plan and demonstrate selected negotiation tactics through role-play, applying course concepts in a simulated project scenario.
Entry Requirements
While there is no specific admission requirement, this course is recommended for learners employed in Project Management-related roles or have previous work experience in Project Management-related roles, so as to better benefit from and appreciate the course contents.
This micro-credential course is offered under the FlexiMasters in Project Management programme, which comprises five SEQUENTIAL courses. Learners are recommended to start with courses “Fundamentals of Project Management” and “Management of Project Plan, Schedule and Resources”. Part-time learners may take up to three courses per semester, which may include the course “Project Budget and Cost Management” alongside the first two courses.