The more complex a project is, the more likely it is that you'll need help from outside vendors and partners. Procurement is the process of planning, managing, and executing purchases of outside goods and services for your organization. In this course, author, speaker, and trainer Oliver Yarbrough explains what procurement management is and why it's essential to your success as a project manager. Review key concepts, pitfalls, critical success factors, and implementation best practices. Learn how to collaborate more effectively with your vendors and contract management team by understanding different procurement contract types. Plus, explore emerging trends such as rapid procurement and micro-purchases, which help speed up procurements.
Learning objectives

Describe the procurement manager's role in the procurement process.
Explore the essentials of good communication with vendors.
Examine the steps in a contract change control system.
Identify risks that might arise in a project.
Define the purpose of a closeout meeting.