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Contracts and Procurement (UMTPM254)   Register Online

This course reviews the total acquisition life cycle associated with contracting and procurement, from the pre-award phase through post-award contract management through contract closeout. Topics covered in this course include defining needs and requirements, formulating a statement of work, proposal development, different contract modalities, sealed bid contracts, negotiated contracts, the award granting process, monitoring contract performance, dealing with change orders, and closing-out contracts.


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.
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

PMBOK® Guide Process Areas

  • Initiating
  • Planning
  • Controlling
  • Closing

PMBOK® Guide Knowledge Areas

  • Project Scope Management
  • Project Procurement Management


  • Course modules containing cutting-edge knowledge developed by renowned experts in project management
  • Course Textbook: Principles of Contracting for Project Management, by Drs. Yanping Chen and Davidson Frame
  • Mentors Studio™ CD-ROM: Contract Management, 3-CD set, featuring Thomas R. Block
  • "Think and Review" section that helps you review key points of the modules
  • Answers to the "Think and Review" section
  • A final exam which contains multiple choice and true/false questions
  • Certificate of Completion.

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

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