Choosing Sellers and Administering and Closing Contracts


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number


Overview/Description
How do you choose among potential sellers? Why is it important to manage the contract and relationship between the buyer and seller? What's the most effective way to complete and settle contracts? As you advance in this course, which focuses on seller selection, contract administration, and contract closure, you will obtain the skills and knowledge required to manage these areas of Project Procurement Management. This course is aligned with "A Guide to the Project Management Body of Knowledge" (PMBOK® Guide) - Third Edition, published by the Project Management Institute (PMI®), Inc., 2004. Copyright and all rights reserved. Material from this publication has been reproduced with the permission of PMI®.

Target Audience
Project managers who are seeking to further their project management skills to more advanced levels, and project managers who are preparing for PMI® Project Management Professional (PMP) certification or need to fulfill continuing education requirements for maintaining PMP status

Expected Duration (hours)
2.5

Lesson Objectives

Select Sellers

  • identify the benefits of using the Select Sellers process.
  • match inputs to the Select Sellers process with examples of how they are used.
  • match the tools and techniques used for the Select Sellers process with their descriptions.
  • determine whether the weighting system was used correctly in a given scenario.
  • match outputs of the Select Sellers process with their examples.

    • Contract Administration

  • identify reasons it's important to understand the Contract Administration process.
  • match inputs to the Contract Administration process with descriptions of how they are used.
  • match the tools and techniques for Contract Administration with examples of how they're used.
  • match the outputs of the Contract Administration process to appropriate descriptions.

    • Contract Closure

  • identify statements that reveal the benefits of the Contract Closure process.
  • match Contract Closure inputs to descriptions of how they're used.
  • identify statements that describe each tool and how it is used for the Contract Closure process.
  • identify statements that describe how closed contracts created during the Contract Closure process are used.
  • match types of updates to organizational process assets generated during the Contract Closure process to descriptions of how they're used.

    • Course Number:
    PROJ0602