Managing Risk and Procurements (Project Management)
Managing the uncertainties can be a critical aspect of project success. In this course, you will learn to reduce negative risk exposure in your projects and enhance opportunities by using effective risk-management and procurement practices. Discover the specific processes of risk management and procurement management as defined by the Project Management Institute in A Guide to the Project Management Body of Knowledge® (Fifth Edition), the industry standard. Identify potential threats, determine the impact of the threat, and develop a risk management strategy by quantifying and prioritizing project risks, as well as learn the various phases of the procurement-management process and how to work effectively with contracting managers, purchasing professionals, and subcontractors to accomplish key project objectives. Upon completing this course, you will be able to define procurement requirements and evaluate bids, and proposals, and successfully negotiate a contract agreement.
What You Will Learn
- Procurement-management process
- Contract agreements
How You Will Benefit
- Identify the characteristics of risks and opportunities.
- Apply tools and techniques for risk identification analysis.
- Determine risk-response strategies and plans.
- Describe the procurement process from both the buyer's and seller's perspectives.
- Select the most suitable contract type and use of incentives to satisfy project needs.
- Identify critical success factors for managing relationships with vendors.
- Introduction to risk management
- How to plan risk management
- How to identify risks
- How to analyze and prioritize risks
- How to quantify risks
- How to plan and implement risk response plans
PROJECT PROCUREMENT MANAGEMENT
- Project procurement management introduction
- Types of contracts
- Procurement pre-award phase (planning procurements)
- Procurement award phase
RISK AND PROCUREMENT MANAGEMENT
- Risk and procurement management integration
- How to monitor and control risks
- Procurement post award phase
Who should attend
This course is designed for new and seasoned project managers, professionals preparing to transition into a new career in project management, business analysts working with project managers and project teams, technical team leaders, and managers.