PMI 6400 Cost, Contract, and Procurement Management
Many Project Managers are confused or sidetracked by the legalities of the cost management issues when utilizing contract or outsourced providers for portions of project delivery. The procurement process is often subjugated to the purchasing group(s) within the organization. The responsibility for the project cannot, however, be transferred to others. Therefore, the process must be understood and managed by the successful Project Manager. Most projects have some contract and procurement component that will influence the overall success of the project. With competitive bidding, technology advancements, and federal and state legal issues that influence the process of procurement, it is important that the Project Manager be aware of and knowledgeable in this aspect of the project process.