Course Description
Proper and accurate pricing and estimating is an essential part of project planning. Without an accurate idea of your project’s expenses, you cannot know if your project will stay within budget. In this course, you’ll gain an understanding of the pitfalls in estimating and the potential risks you may face when pricing a project. You’ll learn how to handle procurement, hone your contract negotiations skills, and review the various types of contracts and their associated risks. You’ll also understand when it may be appropriate to terminate a contract and when it’s time to close a project.
What You'll Learn
- Apply methods for estimating the costs of a project
- Identify the potential dangers and risks associated with pricing a project
- Navigate the procurement process, including its stages and acquisition types
- Define procurement specifications and decision types
- Conduct contract negotiations and compare contract types and their relative risks
- Determine appropriate situations to terminate a contract or close a project
Key Takeaways
- Proper and accurate pricing and estimating is an essential part of project planning, since you cannot know whether a project will stay within budget without an accurate idea of its expenses.
- The course covers two types of contract acquisitions and three types of procurement specifications.
- Different contract types carry different levels of relative risk, which the course reviews alongside best practices for contract negotiations.
- Knowing when to terminate a contract and when to close a project are distinct decisions the course helps learners recognize.
- Pricing a project involves potential dangers and risks that learners are taught to anticipate.
Frequently Asked Questions
What does this course cover?
It covers estimating methods, pricing a project and its potential dangers, procurement handling, defining specifications and decision types, contract negotiations, contract types and relative risk, and when to terminate or close a project.
Will I learn about different types of contracts?
Yes. The course reviews various contract types and their associated risks, and includes lessons on contract negotiations overview, contract types and relative risk, and contract negotiation tips.
Does the course address procurement?
Yes. It teaches how to handle procurement, covering the procurement process stage and two strategies to consider, as well as three types of procurement specifications.
Does the course explain when to end a contract or a project?
Yes. It helps you understand when it may be appropriate to terminate a contract and when it is time to close a project, including a lesson on terminating or closing the project.
Professional Certifications and Continuing Education Units (CEUs)
Professional Development Units (PDUs): 0.75
KnowledgeCity has been reviewed and approved by the PMI® Authorized Training Partner Program. Users can maintain your PMI credentials by earning PDUs from KnowledgeCity qualified courses in Project Management, Business Management, Leadership and many others.
