Effective Project Procurement Management
Duration: 5 days
This comprehensive course designed to enhance the skills and competencies of professionals involved in project procurement. The course equips participants with practical tools and modern approaches to manage procurement processes effectively, ensuring the timely and cost-efficient acquisition of essential services and materials. Participants will learn to balance immediate project needs with long-term cost considerations, manage procurement teams, navigate legal and contractual challenges, and implement contingency plans. This course emphasises real-world applications, providing delegates with actionable strategies and insights to improve their performance and prepare for workplace challenges at their professional level.
This engaging course is tailored for Project Managers, Directors, and Managers with project management responsibilities, as well as those directly involved in project procurement. It is also invaluable for managers who interact with procurement professionals, including technical procurement specialists and leaders of teams focused on critical procurement functions. Participants will gain advanced skills to stay at the forefront of their fields and ensure effective procurement management within their organisations.
Key Issues in Project Procurement
- Segmenting procurement requirements
- Setting realistic deadlines using Critical Path Analysis
- Applying whole life costing in decision making
- Understanding price formation: fixed/firm prices, cost-plus prices, and incentives
- Prioritising CapEx and OpEx
Project Procurement Teams
- Forming multi-functional project sourcing teams
- Defining roles within the procurement team
- Communicating effectively with stakeholders
- Conditioning suppliers to meet project requirements
- Managing team dynamics and performance
Project Sourcing Processes
- Identifying and applying contractual and sourcing strategies
- Conducting spend analysis to reduce procurement costs
- Building partnerships and alliances
- Adopting various tendering approaches
- Implementing effective negotiation strategies
Legal and Contractual Issues
- Preparing and understanding comprehensive contracts
- Utilising performance bonds and warranties
- Managing contract terminations
- Navigating penalties, indemnities, and damages
- Ensuring ethical behaviour in procurement
Contingency Planning
- Taking corrective actions in procurement processes
- Securing quality and timely delivery of goods
- Handling contract variations and amendments
- Managing suppliers in urgent situations
- Developing comprehensive contingency plans
At the end of this course, delegates will be able to:
- Segment procurement requirements effectively.
- Apply critical path analysis for setting realistic deadlines.
- Use whole life costing to inform procurement decisions.
- Understand and manage different price formation methods.
- Form and manage multi-functional project procurement teams.
- Implement effective communication and supplier conditioning strategies.
- Conduct comprehensive spend analysis and adopt cost-reduction methods.
- Prepare and navigate legal and contractual issues in procurement.