Learn how to procure resources for a project.
- [Voiceover] For initiating and planning, you might work with a small core team. Executing is when you bring on the rest of the team, and acquire needed equipment and materials. If team members come from within your organization, procurement might be a simple as telling your in house team, it's time to report for duty. For resources outside your organization, the procurement process includes a few additional steps. Solicitation, Evaluation Selection, Contracting and ongoing Management.
These steps can take time. So be sure to live time in your plan for performing them. Solicitation often begins with a request for proposal, abbriviated as RFP, which is a typical way to ask vendors proposals or bids. An RFP describes the services or resources you need, when you need them, and your budget for the work. It's a good idea to include criteria you planned to use to select the vendor.
So companies can decide whether or not to bid. In addition, include instructions and the deadline for submitting a proposal, and the date you will announce your decision. Once you have all the vendors proposal or bids you haggard down and evaluate the responses using your criteria. Then you select the winner. The selection process depends on the size and complexity of the project. Evaluation and selection, might be as easy as filling in a spread sheet with rating, and choosing the vendor with the highest score.
For large jobs, you might whittle the submissions down to a short list of vendors. And ask each one on the second round to prepare more detailed presentation, or demonstrate, what they have to offer. Contracting is when you prepare and sign a contract for the resources you need. The contract you need depends on the project and the work. Contracts usually include statement of work, terms and conditions, deliverable,deadlines and the price.
Contracts fallen to several categories. Fixed-Price Contracts work when your project is well defined. This type of Contract places the risk on the vendor. Because the vendor is paid a fixed amount, no matter how much time the work takes, or how much it costs. Time and Materials Contracts pay for time worked and expenses incurred. The project excepts most of the risk, so its common to include a not to exceed value close to limit the price.
A Cost Plus Contract, is like Time and Materials, with the addition of penalties or rewards, based on vendors performance. With a retainer, he'll agree to pay for a specify amount of time and define the work as you go. The first thing you do when project work finally begins, is to obtain the resources you need to complete the project. Later in the course, we'll talk about building and managing your team. To learn more about Procurement, see Bob McGannon course, Managing Project Procurement.
Bonnie Biafore has always been fascinated by how things work and how to make things work better. In this course, she explains the fundamentals of project management, from defining the problem, establishing project goals and objectives, and building a project plan to managing team resources, meeting deadlines, and closing the project. Along the way, she provides tips for reporting on project performance, keeping a project on track, and gaining customer acceptance.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Defining the components of a project
- What it takes to be a project manager
- Using project management software like Microsoft Project
- Managing project scope, budget, and schedule
- Managing project resources, including people
- Managing project risk
- Initiating a project
- Identifying and managing stakeholders
- Identifying requirements and deliverables
- Developing a project plan
- Building a project schedule
- Assigning resources to tasks
- Understanding the critical path
- Running the project
- Managing teams
- Monitoring performance
- Closing a project
Skill Level Beginner
Project Management Foundations: Communicationwith Doug Rose1h 47m Appropriate for all
Project Management Foundations: Budgetswith Bob McGannon1h 11m Appropriate for all
1. Getting to Know Project Management
2. Exploring Project Management Knowledge Areas
3. First Things First
How to develop requirements4m 19s
4. Developing a Project Plan
5. Building a Project Schedule
6. While You Run the Project
7. Working with Teams
8. Monitoring and Controlling Progress and Performance
9. Closing a Project
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