Скачать или смотреть PMP Procurement Management DECODED: Contracts, Negotiation & PM Role

​‪@PMPMasterMind‬ Don't FEAR the PMP Procurement Questions! 🚨 This video DECODES the Project Procurement Management Knowledge Area, clarifying the 3 main processes: Plan, Conduct, and Control Procurements. You will master the 3 essential Contract Types (Fixed Price, Cost Reimbursable, T&M), learn the Project Manager's role in Negotiation, and understand how to manage seller performance for the PMP Exam.

Welcome back, Project Leaders! Project Procurement Management is about acquiring goods and services from outside the project team. Since external spend can be a major source of project risk, mastering this knowledge area is critical.

In this lesson, we demystify the legal and financial aspects of procurement:

The Make-or-Buy Decision: The foundational step—deciding whether to acquire a product/service internally or externally.

The 3 Contract Types: We explain the risk allocated to the buyer and seller for the most common contracts:

Fixed Price (FP): High risk for the seller, best for defined scope. (Includes FFP, FPIF, FP-EPA)

Cost Reimbursable (CR): High risk for the buyer, best for uncertain scope. (Includes CPFF, CPIF, CPAF)

Time & Material (T&M): A hybrid used for staff augmentation or undefined work.

Negotiation Strategy: Learn what the Project Manager negotiates (scope, quality, schedule, risk) versus what the Procurement Manager negotiates (price, terms).

The 3 Procurement Processes: A walk-through of Plan Procurements (defining strategy/SOW), Conduct Procurements (negotiation/contract award), and Control Procurements (performance monitoring/claims).

By the end of this video, you'll be able to confidently select the right contract type for any PMP scenario!

Key Learnings & Timestamps (Jump to the Contract Type!):
0:00 - Intro: What is Procurement PMP
1:24 - The Make-or-Buy Decision (The First Step)
5:20 - Evaluating Market Condition (Sole Source, Single Source and Oligopoly)
7:35 - Procurement and Bidding Process (SOW, SOR, RFI, RFP, RFQ)
14:09 - Types of Contracts
15:39 - Fixed Price Contracts (FFP, FPIF, FP-EPA)
20:26 - Cost Reimbursable Contracts (CPFF, CPIF, CPAF)
25:36 - Time & Material (T&M) Contracts Explained

➡️ PREVIOUS VIDEO: Before managing cost, you must estimate it! Watch our video on Cost Management & WBS here:    • PMP Risk Management: The Complete Guide (Q...  

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➡️ COMMENT below: Which contract type do you use most often in your job?

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