Msc Pm Course Notes

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Master of Science in Project Management Module 5: Contracts and Procurement Module learning outcomes
• • • • • Define the criteria for understanding project contracts; Discuss the fundamental concepts of procurement practices; Identify the legal and contractual obligations; Assess the importance of procurement to competitive business performance; Discuss how methods and techniques can be used in handling the extent of financial costing in projects.

Week 3: Procurement management: part 1
Learning objectives for Week 3
• • • Specifying requirements for procurement Developing a project procurement management plan Selecting and assessing suppliers

Introduction
This week, you will examine the development of a procurement management plan, requirements, and specifications. You will learn about bids and proposals and the process of selecting suppliers. You also will explore how you can plan for contracting. The recorded lecture begins by introducing you to the procurement management plan. The week concludes with a discussion on planning for contracting. You can play each section as many times as you like and also read the text version. The textbook readings cover the key learning objectives at a reasonably challenging level. The PowerPoint slides at the end provide useful diagrams and summaries to help you review the main points you have covered during the week. For the assessment, you will discuss a question online and also complete a 1/14 Copyright - Laureate Online Education © All rights reserved, 2000 – 2009, The module, in all its parts: syllabus, guidelines, lectures, discussion questions, technical notes, images and any additional material is copyrighted by Laureate Online Education B.V. Last update: August 10

Module 5: Contracts and Procurement

Hand-in Assignment demonstrating that you can apply the techniques you have studied.

Reading
Textbooks Sollish, F., Semanik, J., Morris, P.W.G. ed. & Pinto, J.K. ed. 2011. Planning and administering project contracts and procurement. Laureate Education, Inc., custom ed. Hoboken: John Wiley & Sons. Cavinato, J.L., Flynn, A.E. & Kaufmann, R.G. (eds.) (2006) Supply management handbook. 7th ed. New York: McGraw-Hill [Online]. Available from: http://site.ebrary.com.ezproxy.liv.ac.uk/lib/liverpool/docDetail.action?docID=10 155019 (Accessed: 19 February 2010). (Please note that the references to these readings can be found in the Weekly Notes text under the headings of the topics to which they relate.) • Specifying requirements for procurement

Section 13.1 of the Sollish, Semanik, Morris & Pinto text explains various concepts related to successful planning and implementation of contracting and procurement strategies. This section highlights the importance of aligning procurement with organisational strategy. This section also explains supply planning and management strategies. Pages 121–127 of the Cavinato, Flynn, & Kauffman text explain various sourcing models used for defining organisational needs, which help an organisation in effective supply management. • Selecting and assessing suppliers

Section 1.13 of the Sollish, Semanik, Morris & Pinto text explores the importance of information provided by suppliers in generating bids and proposals. This section also stresses the need to keep the confidentiality of supplier information to maintain sound business relationships. Pages 127–141 of Cavinato, Flynn, & Kauffman text focus on the sourcing process and how suppliers are evaluated and selected. These pages also suggest various approaches for measuring supplier performance. Supplemental readings Fellowes, Inc. (2010) The importance of records management [Online] Available from:

2/14 Copyright - Laureate Online Education © All rights reserved, 2000 – 2009, The module, in all its parts: syllabus, guidelines, lectures, discussion questions, technical notes, images and any additional material is copyrighted by Laureate Online Education B.V. Last update: August 10...
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