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PMP & CAPM Exam Preparation
March 5, 2013
Sessions
1. About the exam2. Integration & Scope Management3. Time & Cost Management4. Quality & HR Management5. Communication & Risk
Management6. Procurement Management
Last Session Key point
• Process groups: IPEMCC• 9 Knowledge Area: ISTiCoQuHurCoRiP• Project Integration Management
– DevPC.PMP.DirManPex.MoConPW.PerICC.CloPP
• Project Scope Management– CoDeWoBVCon
Last Session Key point – cont’d
• Project Time Management (DeSeReDDevCon)• Project Cost Management (EsCDeBCon)• Project Quality Management (PlanQAQC)• Project Human Resources (Plan ADM)• Project Communication Management (IdS Plan
DisInt ManSEx RepPer)• Project Risk Management (PlanR IdR QQ Rp
MC)
Project Procurement Management
• Plan Con Ad Close
Project Procurement Management
• To acquire / purchase products, services, or results needed from outside the project team
• Includes contract management• Contracts: legal document between buyer and
seller, represents a legally binding agreement which obligates the seller to provide the specified products, services, or results and obligates the buyer to provide monetary or other valuable consideration
Project Procurement Management
Project Procurement Management
• A complex project may involve managing multiple contracts or subcontracts simultaneously or in sequence
• Seller = contractor, subcontractor, vendor, supplier, service provider
• Buyer = client, customer, prime contractor, acquiring organization, purchaser, requestor
Project Procurement Management
• This chapter assumes as buyer and seller is external provider
Project Procurement Management
• Plan Procurements• Documenting project purchasing decisions• Specify purchasing approach• Identifying potential sellers• Answers, “Should we acquire it externally?, What
to require, How to require, How much and When to acquire”
Project Procurement Management
• Plan Procurements
Project Procurement Management
• Plan Procurements – I• Scope baseline (…)• Requirement documentation• Teaming agreements
• Joint ventures, partnerships, or other form of agreements between defined parties
Project Procurement Management
• Plan Procurements – I (cont’d)• Risk register• Risk related contract decisions• Activity resource requirements• Project schedule• Activity cost estimates• Cost performance basline• EEF• OPA
Project Procurement Management
• Plan Procurements – TT• Make-or-buy analysis• Expert judgment• Contract types
Fixed-price contractCost-reimbursable contractTime and material
Project Procurement Management
• Plan Procurements – TT (cont’d)• Contract types (cont’d)
Fixed-price contract– Firm fixed price (FFP) buyer preffered– Fixed price incentive fee (FPIF)
Set price ceiling Price is based on seller’s performance
related to cost, schedule, or technical performance
Project Procurement Management
• Plan Procurements – TT (cont’d)• Contract types (cont’d)
Fixed-price contract (cont’d)– Fixed price with economic price adjustment
(FP-EPA) usually a very long project Takes inflation and commodities cost,
into account Relies on financial index
Project Procurement Management
• Plan Procurements – TT (cont’d)• Contract types (cont’d)
Cost reimbursable contract– Cost plus fixed fee (CPFF)– Cost plus incentive fee (CPIF)
Seller can reimburse allowable costs Based on seller’s performance Utilizes sharing formula, e.g.: 80/20
Project Procurement Management
• Plan Procurements – TT (cont’d)• Contract types (cont’d)
Cost reimbursable contract (cont’d)– Cost plus award fee (CPAF)
Subjective determination of seller performance by buyer
Not a subject for appeals
Project Procurement Management
• Plan Procurements – TT (cont’d)• Contract types (cont’d)
Time and Material– A hybrid type– Used when a precise statement of work
cannot be quickly prescribed– A form of cost reimbursable if it is left open
ended– A form of fixed price if buyer limits
parameters and apply unit labor cost
Project Procurement Management
• Plan Procurements – O• Procurement management plan
Contract type, risk management issue Evaluation criteria, multiple contracts criteria Constraints and assumptions, etc
Project Procurement Management
• Plan Procurements – O (cont’d)• Procurement statement of work
Developed from project scope baseline and defines only a portion of project scope to be included in related contract
Must be in sufficient detail so that prospective sellers can determine their capability to provide such product, service, or results
Project Procurement Management
• Plan Procurements – O (cont’d)• Procurement statement of work (cont’d)
Includes specifications, quantity, quality levels, performance data, performance period, work location, etc
Must be clear, complete, and concise Multiple products / services can be grouped
into single SOW Is subject to change until a contract is awarded
Project Procurement Management
• Plan Procurements – O (cont’d)• Make-or-buy decisions
May include decision to require insurance policies or performance bonds to address some identified risks
• Procurement documents Quotation, bidding document, tender, RFP,
RFQ, RFI, etc
Project Procurement Management
• Plan Procurements – O (cont’d)• Source selection criteria
Project Procurement Management
• Plan Procurements – O (cont’d)• Source selection criteria (cont’d)
Project Procurement Management
• Plan Procurements – O (cont’d)• CR
Project Procurement Management
• Conduct Procurements• To obtain seller’s response• Selecting a seller• Awarding a contract
Project Procurement Management
• Conduct Procurements – I • PMP• Procurement document• Source selection criteria• Qualified seller list• Seller proposals• Project documents• Make-or-buy decisions
Project Procurement Management
• Conduct Procurements – I (cont’d) • Teaming agreement• OPA
Project Procurement Management
• Conduct Procurements – TT• Bidder conferences
To ensure buyer and seller have a clear and common understanding of the procurement
No sellers received preferential treatment Every prospective sellers hear individual
questions and the answers from buyers• Proposal evaluation techniques
Project Procurement Management
• Conduct Procurements – TT (cont’d)• Independent estimates• Expert judgment• Advertising• Internet search• Procurement negotiations
Project Procurement Management
• Conduct Procurements – O• Selected sellers• Procurement contract award
Project Procurement Management
• Conduct Procurements – O (cont’d)• Resource calendars• CR• PMP U• PD U
Project Procurement Management
• Administer Procurements• Process of managing procurement relationships,
monitoring contract performance, making changes / corrections
• To ensure both parties meet their contractual agreements and their own legal rights are protected
• Might be carried out by separate function of the organization
Project Procurement Management
• Administer Procurements• Applied project management processes (but not
limited to):Direct and manage project executionReport performancePerform quality controlPerform integrated change controlMonitor and control risk
Project Procurement Management
• Administer Procurements• Also includes monitoring payments to sellers• Document seller’s performance / evaluation• Contracts can be amended at any time prior to
contract closure by mutual consent
Project Procurement Management
• Administer Procurements
Project Procurement Management
• Administer Procurements – I • Procurement documents• PMP• Contract• Performance report• Approved CR• WPI
Project Procurement Management
• Administer Procurements – TT• Contract change control system• Procurement performance review• Inspection and audit• Performance reporting• Payment system• Claims administration• Records management system
Project Procurement Management
• Administer Procurements – O• Procurement documentations• OPA U• CR• PMP U
Project Procurement Management
• Close Procurements• Completion of project procurement• Includes administrative activities
• Finalizing open claims, update information to project records
• In multi phase project, close procurement only applicable to given phase of the project
Project Procurement Management
• Close Procurements• Early termination also triggers close
procurements
Project Procurement Management
• Close Procurements – I • PMP• Procurement documentation
Project Procurement Management
• Close Procurements – TT• Procurement audit• Negotiated settlement• Record management system
Project Procurement Management
• Close Procurements – O• Closed procurements• OPA U
Sample Questions
1. Which of the following is a false statement about project risks?
A. A risk arises out of uncertainty.B. A risk can only have a negative effect on a project.C. Identified risks are usually listed in a document
called the risk register.D. Risks can be categorized by developing a risk
breakdown structure (RBS).
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