Join Bob McGannon for an in-depth discussion in this video Reducing project risk with procurements, part of Project Management Foundations: Procurement.
- The Ford Motor Company used to use the advertising slogan,…"Quality is job one."…I believe focusing on quality is a critical item…for a project manager, but it's not quite job one.…I know people will argue with me about that.…My view of job one for a project manager is managing risk.…As risk can affect quality, your schedule, costs,…and your scope, I believe appropriately managing risk…covers all aspects of successfully delivering projects.…
A significant way to manage risk on your project…is with well-thought-out procurement strategies.…Remember, project risk involves events that could happen…on your project, but have not yet occurred.…Good procurement actions can keep those risks…from occurring, or reduce the impact if they do occur.…Let's take a look at how procurement can address risk…in each of the four areas I mentioned earlier:…Quality, Schedule, Costs, and Scope.…
The quality of your project deliverables depend…on the integrity and applicability of the products…you deliver via sellers, along with the quality of the items…
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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).