Join Bob McGannon for an in-depth discussion in this video Having statement-of-work flexibility, part of Project Management Foundations: Procurement.
- Jeff Bezos the founder of Amazon.com is quoted as saying,…"We are stubborn on vision, we are flexible on details."…It is important that you have a vision…for what you need to procure.…However, you may not always know…what it will take to create what you need.…That is where contracts that allow…for flexibility can serve you best.…Creating a statement of work that enables your vision that…gives you and the seller flexibility can be very useful.…
The Statement of Work or SOW is the section…of a contract that is created to establish…what is expected from the seller.…Regardless of the contract type you are using…SOWs should contain the following information,…the scope of products and services to be procured…including your responsibilities…and the seller's responsibilities.…This needs to be as detailed as possible.…Next is a deliverable schedule,…then a price structure with timing for payments,…and a description of where the services…will be performed or the product delivered.…
In a number of SOWs you may also detail reporting metrics,…
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- Define project procurement.
- Distinguish when to use vendors and partners.
- Compare and contrast building versus buying.
- Identify different types of contracts.
- List types of payment approaches.
- Test your market.
- Build and use a request for information (RFI).