PROJ6004: Contracts and Procurement All

6/3/2020 Laureate International Universities

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MODULE 3MODULE 3

Procurement Management: Financial Aspects

Introduction

It is often asked whether the components of the project deliverables will be developed internally or

is there a need to outsource some of that development. Most project managers will, at one time or

another, need to procure the expertise, materials, equipment, or services required for

development, implementation, or execution of the project deliverables.

In this module, you will apply judgement and initiative as part of the discussion board participation -

to clarify procurement and �nancial risks for complex projects, discuss key areas of �nancial

exposure, agree on (?) important �nancial risk themes, benchmark and articulate the learning

outcomes and apply these to the Case Study Project.

Module 3 learning activities will include a review of the learning resources (essential, highly

recommended and other learning resources), viewing of essential videos, engaging with other

students to discuss key sub-topics (noted below) and ultimately record key aspects through

re�ection in your re�ection journal.

This module will cover:

Financial aspects of procurement and total cost of procurement;

Financial aspects of contracts, risks and opportunities

Discussion board participation looking at the Case Study contract provisions and to explore key aspects through benchmarking with best practices or excellence frameworks.

This module will help you:

1. Understand �nancial aspects of procurement, will review total cost of procurement (including products and services);

2. Identify �nancial aspects of contracts and inter-dependencies with risks;

6/3/2020 Laureate International Universities

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3. Explore risks/mitigations and opportunity creation through improved Contract Management.

4. Apply judgement and initiative to participate in discussion board to clarify procurement and �nancial aspect of complex projects generally and also discuss and benchmark against a real- life Case Study to better understand the remaining procurement and �nancial risks and themes that may require further critical review;

5. To leverage the learning outcomes from Modules 1, 2 and 3 to enhance group participation and �nd solutions to complex issues.

6. Exchange ideas with other students through the discussion form on the above topics and also record key aspect in the Re�ection Journal.