FIND A SOLUTION AT Academic Writers Bay
Introduction to Contracts and Procurement
Proactively managing the critical steps in an organisation’s contracting and procurement strategy directly contributes to its bottom line success. For projects, especially those in which procurement costs are a significant proportion of the total cost, project managers are required to ensure that the project schedule, cost and risk tolerance are balanced and aligned with the organisation’s procurement processes.
Project managers should be keenly aware of their own project-specific procurement roles and responsibilities and also have clarity on their organisation’s procurement and contracting policies and procedures.
As part of Module 1 students will get an introduction to procurement and contracts in the context of project life cycle and globalisation. It will also explore leadership, governance, organisation aspects and roles/responsibilities that are relevant in procurement.
Module 1 learning activities will include a review of the learning resources (essential, highly recommended and other learning resources), viewing of essential videos, engaging with other students to discuss key sub-topics (noted below) and ultimately record key aspects through reflection in the student’s reflection journal.
This module will cover:
Procurement context, project life cycle, leadership, governance and organisational issues;
Globalisation and interconnected environment;
Roles and responsibilities of project manager, procurement manager and project team members
Procurement briefs and specifications
Project procurement needs in planning and execution phases.
This module will help you:
Understand procurement in the context of project life cycle including leadership, governance and organisation issues;
Understand globalisation of contracts and procurement processes and achieve improved management of risks and underlying opportunities;
Appreciate the specific roles of project manager, procurement manager and project team members so as to achieve enhanced value in project procurement and contracts management
Explore and understand importance of procurement briefs and specifications;
Evaluate procurement scope and procurement needs of projects and how these areas affect project planning and execution;
Understand the important aspects of tender and tender evaluation;
Understand procurement briefs and specifications;
Critique a real-life Case Study identify key issues, uncover complexities and identify impact of project environment and organisational aspects.
Exchange ideas with other students through the discussion form on the above topics and also record key aspect in the Reflection Journal.
Essential learning resources for all modules
Procurement Management is the knowledge area involved in purchasing or acquiring products, services, or results from outside the project team, including developing and administering the contract or purchase order needed to obtain them.
Essential learning resources for this module:
Essential videos for Module 1
Highly recommended reading (Applies to all assessments)
Other learning resources
There is an abundance of material accessible via the Internet, the PMI website and from journal articles which describe and document the experiences and lessons learnt from contracts and procurement initiatives with a high degree of complexity. Students are encouraged to research all of identified subject learning resources and/or broader Internet base.
Fast Project Plans (2013). Fast Project Plans: Procurement Management Plan Template. Retrieved from http://www.fastprojectplans.com/procurement-management-plan-template.html
Piscopo, M. (2013). Project Management Plan: Free Project Management Templates: Procurement Management Plan. Retrieved from http://www.projectmanagementdocs.com/project-planning-templates/procurement-management-plan.html
Dotoli, M. M., & Falagario, M. M. (2012). A hierarchical model for optimal supplier selection in multiple sourcing contexts. International Journal of Production Research, 50(11), 2953-2967. doi:10.1080/00207543.2011.578167
Hazlett, S., McAdam, R., & Beggs, V. (2008). An exploratory study of knowledge flows: a case study of public sector procurement. Total Quality Management & Business Excellence, (1-2). 57.
Vijayvagy, L. (2012). Decision framework for supplier selection through multi criteria evaluation models in supply chain. International Journal of Management & Innovation, 4(2), 16-28.
Boyce, T., & Lake, C. (2009). Chapter 6: Principles of commercial risk management. In, Commercial Manager (pp. 185-215). Thorogood Publishing Ltd.
Boyce, T., & Lake, C. (2009). Chapter 7: Post-delivery risk. In, Commercial Manager (pp. 217-242). Thorogood Publishing Ltd.
Liu, S., & Lin, J. (2010). An agile and diversified supply chain: reducing operational risks. Competitiveness Review: An International Business Journal, 20(3), 222-234.
Project Management Institute. (2014). How to mitigate project risks. Retrieved from: http://www.pmi.org/Knowledge-Center/On-Demand_Webinars/Mitigate-Project-Risks.aspx
Project Management Institute (2011). Project Management Processes for the True Beginner: Risk Management Planning. Retrieved from http://www.pmi.org/Knowledge-Center/On-Demand_Webinars/Risk-Management-Planning.ashx
Salonen, A. (2010). Reducing supplier risk: how finance and procurement can work together to manage working capital, enforce controls, and formulate corporate strategy. Strategic Finance, (12). 41.
Murray, K. (1998). Risk management: Beyond the textbooks. PM Network, 53-57. Retrieved from http://marketplace.pmi.org/Pages/ProductDetail.aspx?GMProduct=00100355000
Complete this Module’s Learning Activities
Complete all the module readings in preparation for the discussion participation in Module 2 and 3. Ensure you are familiar with the case study assigned by your learning facilitator. Begin to formulate your main discussion post.
Particular attention is drawn to the Case Study, which requires careful review to grasp the range of issues (e.g. project program, governance, reporting, risk management, budgetary and financial management) including contract and procurement aspects.
Reflection is a key element of the learning journey and you are encouraged to:
Research and look back at the history (when, what, how and who) associated with the Case Study project and the positive outcomes it aims to generate over the whole-of-life of the procurement;
Exchange ideas with other students to improve their understanding of all Learning Resources (Essential, Highly Recommended and Other Learning Resources) through the discussion forum looking at particular issues from sub-topics in Module 1 as applied to the Case Study and explore ideas and thoughts on what they would do in certain situations.
Important Note: As part of the engagement for Module 2 you will be assigned to Groups (with up to 4 members per group). The aim is for students to get to know each other and establish Virtual Teams and team guidelines. Reference is also drawn to the Essential Learning Resource (Virtual Team Pyramid).
- Assignment status: Already Solved By Our Experts
- (USA, AUS, UK & CA PhD. Writers)
- CLICK HERE TO GET A PROFESSIONAL WRITER TO WORK ON THIS PAPER AND OTHER SIMILAR PAPERS, GET A NON PLAGIARIZED PAPER FROM OUR EXPERTS
QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER