Project Procurement Management Exam

Procurement Management Exam

The list of content for the Project Procurement Management exam according to the PMI approach:

1. Plan Procurement Management

   – Identifying project needs that require external procurement.

   – Developing a Procurement Management Plan.

   – Deciding on make-or-buy analysis.

   – Preparing procurement documentation, including procurement statements of work (SOW).

2. Conduct Procurements

   – Obtaining seller responses, selecting a seller, and awarding a contract.

   – Techniques: bidder conferences, proposal evaluation techniques, advertising, negotiation.

3. Control Procurements

   – Managing procurement relationships, monitoring contract performance, and making necessary changes and corrections.

   – Ensuring that both the buyer’s and seller’s performance meet contractual requirements.

4. Close Procurements

   – Completing and settling each contract, including resolving any open items.

   – Conducting procurement audits and documenting lessons learned.

5. Procurement Documentation

   – Preparing procurement documents: Request for Proposal (RFP), Invitation for Bid (IFB), Request for Quotation (RFQ).

   – Contract types: fixed-price, cost-reimbursable, time and materials.

6. Contract Types and Risk

   – Understanding different contract types and their risk implications for both buyers and sellers.

   – Fixed-price contracts, cost-reimbursable contracts, time and materials contracts.

7. Negotiation and Supplier Selection

   – Techniques for negotiating contracts.

   – Criteria for evaluating and selecting suppliers.

8. Legal and Ethical Considerations

   – Understanding legal implications and ethical considerations in procurement.

   – Adhering to organizational procurement policies and procedures.

9. Procurement Strategy

   – Developing a strategy for procurement based on project requirements and constraints.

   – Aligning procurement strategy with project objectives and organizational goals.

10. Vendor Management

    – Managing relationships with vendors and suppliers.

    – Ensuring clear communication and performance monitoring.

11. Procurement in Agile Projects

    – Adapting procurement practices for Agile projects.

    – Flexible contracting approaches to accommodate iterative development and changing requirements.

12. Tools and Techniques

    – Expert judgment

    – Market research

    – Analytical techniques

    – Source selection criteria