Although the word procurement or purchase implies to be a mere transaction involving a buyer and seller, it requires execution on multiple fronts such as technical, commercial, legal, interpersonal and managerial. Individuals with knowledge of procurement process can reduce lapses in management or communication and ensure organizational success.

To help professionals and students understand the process and perform better, this course focuses on delivering a comprehensive understanding of the management and practical aspects involved in procurement.

For students and professionals in construction, oil and gas, engineering, manufacturing, interior design, textiles or apparel.

What will you learn through your investment in these 3.5 hours of Lecture?

• Basics of procurement such as classification or items and terminology.

• Understand decision making for building it in-house vs purchase.

• Market conditions and state of supply chain.

• Criteria for supplier selection and methods for evaluation.

• Understand contract, types of arrangements and their pros and cons.

• Choice of contract based on your project environment or organization type.

• Types of contract documents and standard terms to be included in contracts.

• Limitation of Liability - Delivery terms; globally accepted Incoterms.

• Identifying and working with stakeholders

• Procurement process and contract administration.

• EVM - Earned Value Management

• Basics of Claims and Dispute Resolution

• Closing and Termination of Procurement.