PC 524 - Commercial Contracting for Project Managers

In order to be competitive in today’s worldwide marketplace, many companies (and to a certain extent government agencies) have gone through a cycle of downsizing. This downsizing forced many organizations to sell off or dismantle departments deemed not essential to the core business. Organizations began to rely on procurement and contracting administrations techniques to obtain the products and services that were no longer available within the company. In addition to the changing organizational environment, many of today’s projects are extremely complex and require the integration of products and services not developed or available within an organization. In order to meet project goals and objectives, project managers and teams have become dependent on contractors and subcontractors to supply the needed technology or expertise. Therefore, it has become essential that they develop an understanding of procurement and contract administration techniques in order to access the needed expertise. This course helps students understand the important role that contracting and purchasing plays in the project environment. Students gain an understanding of contracting techniques that allow projects to meet or exceed project goals. Challenges facing a project team in the area of contracting and the legal context of contracts are also discussed.

Credits: 3