Overview

It seems as if everything is being outsourced on our projects these days! Consequently, smart project professionals recognize that they need to strengthen their contracts and procurement skills to deal with today’s outsourcing realities.

This course takes a two-tiered approach to teaching contracting and procurement skills. The first tier focuses on covering basic concepts and techniques that are needed to function effectively in an acquisition environment. The second explores hot concepts being promoted today, such as the faster, better, cheaper method that is a spin-off of the Lean Aerospace Initiative (LAI), increased reliance on Statements of Objectives (SOOs), and the various approaches to acquisition streamlining.

Course Credit: Students who successfully completed semester courses can apply credit gained toward UMT's Master of Science in Management, MBA, Master of Science in Computer Science, or Master of Science in Information Technology programs.

Instruction

Method: Readings, case study analyses, homework, final examination

Materials: On-line workbook, case studies, textbook

[Note: Students must purchase all textbooks for semester-length PDU courses.]

Objectives

To review key issues and techniques central to effective procurement and contracting on projects; to develop skills to operate more effectively in the acquisition management arena.

PMBOK Knowledge Areas

• Project Scope Management
• Project Procurement Management

What You Will Learn

• How contracting and procurement skills have become key competencies in organizations
• How different contract structures are appropriate in different situations
• How effective contracts are a key risk management tool
• Features of effective proposals
• Key approaches to soliciting bids
• Standard ways of reviewing proposals
• What is needed to manage contracts in the post-award phase
• How to close-out contracts

Topics Covered

• Key elements of the pre-award and post-award phase
• Basic features of effective proposals and feasibility studies
• Use of Statements of Work (SOWs) vs. Statements of Objectives (SOOs)
• Features of different instruments for solicitation: Requests for Proposals (RFPs), Invitations for Bid (IFBs), and Requests for Quotes (RFQs)
• Steps needed to conduct a competent solicitation for bids
• Risk implications of different contract modalities: firm fixed price, CPFF, CPAF, CPIF, value engineering
• Negotiating for win-win solutions
• Awarding contracts
• Elements of contract management in the post-award phase
• The role of the contracts office
• Steps needed to close-out contracts
• Resolving contract disputes
• Current acquisition concepts: faster, better, cheaper and streamlining

Take a Course

The 45-PDU semester courses in PDU Suite do not require any formal application to the university. Each course costs $1,170. You may pay for a course at any time on our Online Payment page.

All 45-PDU semester courses are offered based on sufficient enrollment. UMT decides whether to offer a particular course two weeks prior to the beginning of a semester or when there is sufficient enrollment, whichever comes first.

Please fill out the course registration form below if you are interested in taking this course. This will help us to estimate the enrollment as early as possible and let everyone know whether the course will be offered next semester.