Welcome to the last module in our Engineering Project Management Specialization. In this module, we'll address Project Procurement Management, or how projects obtain goods and services.
As you recall, in the last module, we covered human resource management.
Specifically, we addressed creating a resource plan, finding the team, team development, and team management.
So what happens if your team does not have all the skills or resources to deliver all the materials and services required to complete your project?
Well the simple answer is, we will have to go out to the market and procure them.
How do we go out making these decisions about conducting a procurement activity?
We hope to answer this questions as part for this module.
Specifically, we will give you insights on when you should go outside the organization to obtain the materials or services you need for your project. Understand how to create a procurement plan.
Identify different types of contracts and the associated risk with each type. And finally, how to review and compare incentive and award fees.
So let's get started.
In the next lesson, we'll look at the definition of procurement, and review the project procurement processes.
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