Online Procurement & Contract Management

MDO237 - Online Procurement & Contract Management

Course description
Online Procurement & Contract Management provides the information and tools needed, from the standpoint of both the buyer and seller, to manage procurement successfully. The procurement of products and services is a rapidly growing area of project management. From making the decision of what should be procured, and all the way through solicitation, source selection, contract management and closeout, this course presents a systematic approach to planning and executing project procurement.

What you will achieve

• Introduction to the terms, vocabulary, and fundamental concepts of procurement and contracting


• Knowledge of the types of contracts and their relative advantages and drawbacks


• Ability to create processes for procurement and solicitation planning


• Skills for obtaining bids and choosing among potential sellers


• Techniques for administering contracts and ensuring that project needs are met


• Understanding of procurement issues from the unique perspectives of both the buyer and the seller

What you will learn

• Legal Concepts of Contracts - Basic terms and concepts of contract law


• Procurement Planning - Determining what to procure and when


• Solicitation Planning - Documenting requirements and identifying potential sources


• Solicitation - Obtaining quotations, bids, offers, or proposals


• Source Selection - Choosing among potential sellers Contract Administration - Managing the relationship with the seller


• Contract Closeout - Settling the contract, ensuring that all terms have been satisfied