Overview & Planning

Video Activity

This lesson focuses on overview and planning and focuses on procurement. Procurement is the knowledge area which covers the processes necessary to purchase or acquire products, services or results needed from outsider the project team. Procurement includes: Contract management Change control processes Both of these are required for contracts and p...

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Time
5 hours 14 minutes
Difficulty
Intermediate
CEU/CPE
10
Video Description

This lesson focuses on overview and planning and focuses on procurement. Procurement is the knowledge area which covers the processes necessary to purchase or acquire products, services or results needed from outsider the project team. Procurement includes:

  • Contract management
  • Change control processes

Both of these are required for contracts and purchase orders. Procurement management processes include: - Plan procurement management (planning)

  • Conduct procurements (executing)
  • Control procurements (monitoring)
  • Close procurements (closing)

[toggle_content title="Transcript"] Welcome to Cybrary. My name is Vincent McKeown I am the subject matter expert for the project management professional certification. Today we will be going over procurement. In the project management certification, there are five process groups 10 knowledge areas and 47 total processes. The five process group, there is initiation, planning, monitoring controlling, execution, and closing. The ten knowledge areas, are integration, scope, time, cost quality, human resources, communication, risk, procurement and stakeholder. The 47 processes are made up between the ten knowledge areas and the five process groups. Going into the exam, I would have the ten knowledge areas, memorized with the five process groups. Before the time start for the exam I would write on my brain dump what each one of these processes are. Here I have numbers but I would actually write what the processes. This way during the exam, you can quickly go to a process, if they're taking about scope, and you know there is four processes within planning. You can quickly identify that. Just a matter of knowing your inputs, outputs and tools. For procurement, there is one process needed for planning, one for executing, and one in monitoring controlling and one in closing. One key thing is there is only two knowledge areas, that have anything in closing. The other one is integration. This knowledge area covers the processes needed to purchase or acquire products or services or results needed from outside the project team. Procurement includes, contract, management, and change control processes required for contracts and to purchase orders. For this one there is plan procurement management which every knowledge area has a plan for that knowledge area, procurement, its plan procurement management, conduct a procurement which is in executing, control procurement which is buying and controlling and closed procurement which is in closing. The first process that we are go over is plan procurement management. Plan procurement management is the process that creates the documents which specify the project will approach procurement and identify potential sellers. This process creates the procurement management plan which is the main output. Procurement statement of work, procurement documents, seller selection criteria, maker a buyer decision. We will go over the tool for that, change request and project document updates. The inputs are the project management plan, remember the project management plan is the binder which contains all your sub plans. The sub plan happens to be the procurement management plan, requirements documentation, risk register, activity resource requirement, project schedule, activity, cost estimates, and stakeholder register. Looking at these outputs, the project management plan is going to tell you that you need a procurement plan. Requirements documentation tells you what you need. Risk register is going to identify all the risks for the project, so this ones that we are concerned about dealing with procurement, activity resource requirements, lets you know what you need the resources, when . Project schedule gives you the guidelines for what happens in the project. Activity cost estimates is letting you know how much each activity should cost so if you are trying to procure items or a subcontractor you need to know what your budget is for that. Stakeholder register lets you identify who the stakeholders are and how to engage them. The tools make or buy analysis, I am going to show you that on the white board next, expert judgement which is very common for tools. It is having the expertise for this process, marketing research...knowing what products are out there, and holding meetings. [/toggle_content]

Video Transcription
00:04
welcome this I bury. My name is Vincent A Q and I am the subject matter expert for the project and professional certification. Today we'll be going over procurement.
00:12
So in the project Manager ah, certification, there are five process groups,
00:17
technology areas and 47 total processes.
00:21
The five process groups are initiation planning,
00:24
monitoring, controlling.
00:26
Um, I skipped over executing and closing
00:31
the 10 Knowledge Aires Our integration scope,
00:34
time,
00:35
cost,
00:36
quality,
00:37
human resource is communication, risk procurement and stakeholder.
00:42
The 47 total processes are made up between the 10 knowledge areas and the five process groups.
00:49
So
00:50
going into the exam,
00:52
I would have the technology areas, um, them rise with five process groups
00:58
and before the timer starts on the exam, I would write down in my brain. Don't
01:03
what each one of these processes are here. I have numbers, but I would actually write what the process is.
01:08
Um,
01:10
this way during the exam,
01:11
you can quickly go to a process of they're talking about scope.
01:15
You know, there's four
01:17
processes. Look planning.
01:19
You can quickly identify that
01:22
this is a matter of knowing your inputs, outputs and tools.
01:26
So for steak era for procurement.
01:30
Um,
01:30
there is one process he needed elephant planning, one in executing and one in monitoring, controlling
01:38
and
01:38
one in closing.
01:40
So
01:41
one key thing is there's only two knowledge areas. I have anything in closing. The other one is integration.
01:51
So this knowledge area covers. The process is needed to purchase
01:55
or acquire products or service is
01:57
or results, um
02:00
needed from outside the project. Team
02:04
acumen includes contract management and change control. Process is required for contracts and purchase orders.
02:13
So for this one,
02:15
there's plan procurement Management, which every knowledge area has a plan for that knowledge area
02:20
procurement. Its plan. Procurement management
02:23
conduct Procare Mints, which is in executing
02:27
control for tournaments. What's inspiring, controlling and clothes for chairman switches and closing.
02:36
So the first process we're gonna go over his plan Procurement management
02:39
plan. Procuring advancement is the process that creates the documents. What specifies how the project will approach procurement and identify potential sellers
02:49
the stock make rates are
02:51
the stock make This process creates the procurement mansion plan, which is the main,
02:55
um, output
02:58
procurement statement of work
03:00
procurement documents.
03:01
Source. Selection criteria
03:04
maker by decisions will go over the tool for that
03:08
change requests
03:10
and project document updates.
03:14
The IMP attire, the project management plan.
03:16
Remember, the project manager plans the binder, which contains all your sub plans. So the sub plan
03:22
happens to be the procurement management plan
03:24
requirements, documentation
03:28
risk register
03:30
activity, resource requirement,
03:32
project's schedule,
03:34
activity
03:35
assessments and stay Call the register.
03:38
So
03:38
look at these inputs. The product management plan is gonna tell you that you need a procurement plan
03:44
requirements. Documentation tells you what you need.
03:49
Um,
03:50
risk register is gonna identify all the risk for the project. So
03:54
these
03:55
ones that we're concerned about her dealing with procurement
04:00
activity resource requirements lets you know when you need resources. When
04:04
project schedule,
04:06
it gives you the
04:09
the guidelines for
04:11
what happens in the projects
04:14
there. When it happens in the project activity cost estimates is living. You know how much detective ity should cost, though
04:20
If you're
04:21
trying to procure items or subcontractors,
04:26
you need to know what your budget is for that.
04:29
And stakeholder Roadster looks. You identify who the stakeholders are and how to engage them.
04:35
Uh, the tools
04:36
maker, by analysis,
04:39
uh, I'm gonna show you that on the white board next
04:43
expert judgment, which is very common for tools. It's having the expertise for this knowledge area for this process.
04:49
Market research, knowing what products are out there,
04:53
um, and holding meetings.
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