As any Project Management professional would appreciate, Procurement Management is an important element of managing complex projects. Through this webinar/series of webinars, Manish will discuss important concepts of Procurement management like types of contracts, standard forms with a brief overview of FIDIC documents as an example, Instructions to Bidders (ITB), importance of independent estimates, change management, Extension of time (EOT), Payment terms, Price escalation, Suspension and termination of contract, types of securities, Force Majeure and finally dispute resolution. These concepts will be discussed with examples and case studies.
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All project managers have to buy something, either goods or services. When you have a procurement professional on your team, you can manage the procurement as a subproject. But when you have to do the procurement yourself, you need to know exactly what has to be done, and when.