MODULE 2 Procurement Process, Strategies, Approaches and Key Issues with Regards to Contracts Introduction Procurement is a well-defined discipline that has become one of the most critical components of the project value chain. The total cost, profit and project schedule depend on how effectively the procurement process is managed. To coordinate procurement operations, project managers are proficient in determining the applicability and suitability of different procurement models to their projects. In this module you study the procurement process, procurement strategies and approaches and key issues with regards to contracts. As part of key issues, risk management and risk mitigation aspects will be considered in greater depth – in particular to explore the Essential Learning Resources (Case Study) and understand its importance – both from issues that have arisen in the past and efforts that needs to be put-in to ensure successful completion. Module 2 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 reflection in the student’s reflection journal. This module will cover: Procurement process, strategies approaches and also look at particular types of procurements in particular the Private Public Partnership (PPP-type Procurement)Organisational impact, understanding tendering and tender evaluation from a project perspective;Corporate responsibility in the procurement context and procurement process including expression of interest and request for proposal;Strategic procurement and associated tools and techniques), contract management and management of risks;The Case Study to identify risks, mitigations, dependencies, key issues. This module will help you: Learn about procurement approaches with further in-depth review of the PPP-type procurement – identifying areas of excellence;Understand the importance of procurement function to your organisation, the organisational impact and project context in procurement;Better understand probity, corporate responsibility and project approvals and delegations – as applied to your organisation – and test these aspects against the Case Study project;Reinforce the importance of procurement process and its importance to ensuring strategic alignment of procurement to the business;Explore strategic procurement and associated procurement tools and techniquesUnderstand tender evaluation process from a project perspective.Study examples of Expressions of Interest, Request for Proposals (or Quotations and Tenders) including e-procurement;Explore Contract Management and Management of risks;Critique a real-life Case Study, complex procurement project with regards to risks, mitigations, dependencies with the aim of developing strategies for project completionsExchange ideas with other students through the discussion form on the above topics and also record key aspect in the Reflection Journal. MODULE 2 Learning Resources Essential learning resources for all modules Procurement Management is the knowledge area involved in purchasing or acquiring products, services, or results from outside the project team, including developing and administering the contract or purchase order needed to obtain them. Project Management Institute. (2013a). A guide to the project management body of knowledge (PMBOK guide) (5th ed.). Newtown Square, PA: Author.Chapter 12, ‘Project Procurement Management’Also retrieved from http://www.pmi.org/Macbeth, D. K., & Project Management Institute. (2012). Procurement and supply in projects: Misunderstood and under-researched. Newtown Square, Pa: Project Management Institute.Subject, and assessment specific, case study provided by Learning Facilitator Essential learning resources for this module: Government of South Australia, State Procurement Board. (2014). Procurement Authority and Accreditation. Accreditation – Better Best Practice Handbooks.Category Two Organisation and PeopleCategory Four Processes and SystemsRetrieved from http://www.spb.sa.gov.au/content/policies-guides/procurement-authority-and-accreditationFor Module 2 the focus area is Category Two and Category Four documents, highlighted above.Sollish, F., & Semanik, J. (2012). The Procurement and Supply Manager’s Desk Reference. Upper Saddle River, NJ: Wiley. For Module 2, the relevant chapters are:Chapter 3, ‘Solicitation of Bids and Proposals’Chapter 4, ‘Supplier Selection Criteria’Chapter 5, ‘Contracts and Legal Aspects of Procurement’Chapter 7, ‘Risk Management’ Essential videos for Module 2 Procurious HQ. (2014, May 22). Introduction to Procurement: Procurement Process in 5 stages [Online video]. Retrieved from https://www.youtube.com/watch?v=_pZ0Py2NWRw&index=4&list=PLDq2ybytYaq8zmXsgpvudVA8tEzMUwi1FNote: Embedding has been disabled by request. To view this video, click on the link.Procurious HQ. (2015, March 5). Introduction to Procurement: Stakeholder Engagement for Procurement [Online video]. Retrieved from https://www.youtube.com/watch?v=lZoUlQpICkM&index=6&list=PLDq2ybytYaq8zmXsgpvudVA8tEzMUwi1FProcurious HQ. (2015, March 5). Introduction to Procurement: Profiling the Supply Market [Online video]. Retrieved from https://www.youtube.com/watch?v=E4iWsz-XvyI&index=9&list=PLDq2ybytYaq8zmXsgpvudVA8tEzMUwi1FProcurious HQ. (2015, March 5). Introduction to Procurement: Competition in the Supply Market [Online video]. Retrieved from https://www.youtube.com/watch?v=TIGxKt0F_IU&list=PLDq2ybytYaq8zmXsgpvudVA8tEzMUwi1F&index=10Procurious HQ. (2015, March 5). Introduction to Procurement: Developing a Market Engagement Strategy [Online video]. Retrieved from https://www.youtube.com/watch?v=lluQe3-qvhg&index=11&list=PLDq2ybytYaq8zmXsgpvudVA8tEzMUwi1FProcurious HQ. (2015, March 5). Introduction to Procurement: Executing your Go-to-Market Strategy [Online video]. Retrieved from https://www.youtube.com/watch?v=l9A6-cOfTBA&index=13&list=PLDq2ybytYaq8zmXsgpvudVA8tEzMUwi1FProcurious HQ. (2015, March 5).Introduction to Procurement: Issuing and Evaluating RFx Documents [Online video]. Retrieved from https://www.youtube.com/watch?v=aaGYITDTGUY&list=PLDq2ybytYaq8zmXsgpvudVA8tEzMUwi1F&index=14 Highly recommended reading (Applies to all assessments) KPMG International (2015). Public Private Partnership.Shaw, Carol Lyle. (2012). Virtual Team Success Pyramid. Other recommended readings Dotoli, M. M., & Falagario, M. M. (2012). A hierarchical model for optimal supplier selection in multiple sourcing contexts. International Journal of Production Research, 50(11), 2953-2967. doi:10.1080/00207543.2011.578167Hazlett, S., McAdam, R., & Beggs, V. (2008). An exploratory study of knowledge flows: a case study of public sector procurement. Total Quality Management & Business Excellence, (1-2). 57.Vijayvagy, L. (2012). Decision framework for supplier selection through multi criteria evaluation models in supply chain. International Journal of Management & Innovation, 4(2), 16-28.Boyce, T., & Lake, C. (2009). Chapter 6: Principles of commercial risk management. In, Commercial Manager (pp. 185-215). Thorogood Publishing Ltd.Boyce, T., & Lake, C. (2009). Chapter 7: Post-delivery risk. In, Commercial Manager (pp. 217-242). Thorogood Publishing Ltd.Liu, S., & Lin, J. (2010). An agile and diversified supply chain: reducing operational risks. Competitiveness Review: An International Business Journal, 20(3), 222-234.Project Management Institute. (2014). How to mitigate project risks. Retrieved from: http://www.pmi.org/Knowledge-Center/On-Demand_Webinars/Mitigate-Project-Risks.aspxProject Management Institute (2011). Project Management Processes for the True Beginner: Risk Management Planning. Retrieved from http://www.pmi.org/Knowledge-Center/On-Demand_Webinars/Risk-Management-Planning.ashx Salonen, A. (2010). Reducing supplier risk: how finance and procurement can work together to manage working capital, enforce controls, and formulate corporate strategy. Strategic Finance, (12). 41.Murray, K. (1998). Risk management: Beyond the textbooks. PM Network, 53-57. Retrieved from http://marketplace.pmi.org/Pages/ProductDetail.aspx?GMProduct=00100355000 MODULE 2 Complete this Module’s Learning Activities Learning activities: You are encouraged to review the Essential and Highly Recommended Resources. As part of Reflection you are encouraged to: Seek input or comments from other students on the sub-topics (as noted in the module introduction) and the short videos to improve not only your own understanding but that of the wider groups and teams.Explore ideas on different procurement methods, including an in-depth review of the Public Private Partnership (PPP-type) procurement method and giving particular consideration to the KPMG Document (refer Highly Recommended Learning resource, above). As part of the engagement for Module 2 you will be assigned to Groups (with up to 4 members per group). The aim is for you all to get to know each other and establish team guidelines. Reference is drawn to the Essential Learning Resource (Virtual Team Pyramid). Reflection Journals should also record a critical self-reflection of how you would apply some of the learnings in your own professional development as project / procurement / contract managers and how you establish an approach to work together effectively within your assigned Virtual Teams. To participate in this module’s Discussion, click on the “Discussion Forums” link in the subject navigation menu, then on this Module’s Discussion Forum. Important Note: Reference is drawn to the Essential Learning Resource (Virtual Team Pyramid). You are also encouraged to learn from the wider student community on blackboard.
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