laureate proj6004 contracts and procurement understand the principles of project procurement

Context:
General
Procurement and contracts are integral to successful project management. Planning for purchases and acquisitions, requests for proposal, vendor selection, contract administration, and contract closure are integral parts of the process. Learning from Case Studies and benchmarking against better practices, standards and excellence is vital to understand complexity of issues and successful strategies for procurement and contract management. It will also ensure improved responsiveness to key issues, promote supplier- client relationships through proactive management of risks and ultimately deliverhigher level of focus on performance-based outcomes.

Specific
(Assessment 1 Part A and Part B Context)

The context of Assessment 1 is a further deep-dive discussion with other students of key issues to better understand the principles of project procurement, challenges, risks, and to develop key procurement themes and quantify financial exposure. Using blackboard and class interaction to develop risk mitigation, to benchmark issues and capture lessons learnt.

Discussion Board Participation
based on further review of the subject Learning Resources and the Case Study.

Students are encouraged to look at the full suite of module Learning Resources as well as other public documents associated with the Case Study.

Through a variety of contributing perspectives, Assessment 1 aims to encourage a further understanding of the procurement and financial risk, mitigations and benchmarking against better practices and excellence reports to ensure successful completion. The specific roles and responsibilities of project manager and procurement manager in the completions effort is also explored.

Students are also encouraged to understand and explore the related organisational issues, stakeholders and the funding and other procurement aspects associated with the Case Study drawing upon the learnings from similar procurement projects from the Essential Learning Resources.

Assessment 1 Part A and Part B
will involve discussion board contribution by individuals exploring the following key issues:
Typical procurement and risks required to be managed for complexprojects;
Specific financial risks from the Case Study project (use research information, initiative andjudgement);
Possible risk mitigation actions that relate to the Case Study project and how these relate to better practiceguidelines
Areasforfurthervendornegotiationsandmanagement-toachieveasuccessful contractcompletion.
AreasofkeyaccountabilityforProjectManagerandProcurementManagerinfacilitating successful outcome for the Case Studyproject;
The questions for discussion board are formulated to critique the above topics and bringoutideasthoughts,developsolutionsandensurestudentsactiveparticipation, leadership, feedback, cooperation and time-managementaspects.

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