Description
Although the word procurement or purchase implies to be a mere transaction involving a buyer and seller, it requires execution on multiple fronts such as technical, commercial, legal, interpersonal and managerial. Individuals with knowledge of procurement process can reduce lapses in management or communication and ensure organizational success. To help professionals and students understand the process and perform better, this course focuses on delivering a comprehensive understanding of the management and practical aspects involved in procurement. For students and professionals in construction, oil and gas, engineering, manufacturing, interior design, textiles or apparel. What will you learn through your investment in these 6 hours of Lecture? Item classification Management Terminology. Build vs Buy Decisions Market conditions State of supply chain. Criteria for Supplier Selection Methods for Supplier EvaluationWork packages and work breakdown Resource breakdown and resource calendarBasics of Change Management Understand the term contract Types of contracting arrangements Impact of Project environment and Organization type. Various purchase documents Standard terms in procurement contractsLimitation of Liability - Delivery terms; Incoterms. Identifying and working with stakeholders Preparing for procurement and documentsProcurement process and contract administration. EVM - Earned Value ManagementBasics of risk and business continuity Systematic approach managing risksBasics of Claims and Dispute Resolution Closing and Termination of Procurement7Rs of ProcurementAlso, with a quiz in each section - total of 8 Quizzes
