Cost and Procurement Management Training

This course deals with the fundamentals of Cost & Procurement Management. The Cost Management includes the defining, sequencing and duration of activities, cost estimation, cost estimation and control and provides participants with effective tools to ensure the project is completed on time and within budget, the Procurement Management is to identify the necessary steps and responsibilities for procurement from the beginning to the end of a project through Procurement Risks, Cost Determination, Standard Procurement Documentation, Procurement Constraints, Contract Approval Process, Decision Criteria, Vendor Management and Performance Metrics for Procurement Activities. People attending this course will get an eight PDU certificate from PMI, USA.

Course Content:

Procurement

  • Determine Procurement Requirements
  • Preparation of Procurement Documents (RFP, RFQ, ITB)
  • Preparation and understanding of Statement of Work (SOW)
  • Contract Types
  • Contract Administration
  • Follow agreed procurement processes
  • Conduct contracting and procurement activities
  • Implement contract and/or procurement



Cost

  • Cost Management Terminologies
  • Cost Estimation methods
  • S – Curve, types and uses
  • Determination of Project Budget
  • Monitor and Control project budget and Cost
  • Conduct project financial completion activities

What you will learn from this course

  • The principles of procurement management and their application
  • Procurement Management processes and procedures
  • Link time, cost and resources to the project framework
  • Development of project budgets and expenditure forecasts
  • Use of budgets and expenditure forecasts as control mechanisms
  • Appropriate cost management methodologies, their capabilities, limitations, application and outcomes

For whom: BBA, B.COM, MBA, B.E/B.TECH final year students and graduates with 0 to 3 years of experience.