Episode 57: Procurement Management Toolkit

Certified - Project Management Professional (PMP) Audio Course

Vendors, contracts, and partnerships bring opportunity — but also risk. This episode focuses on the procurement tools that help you manage external resources effectively. We’ll start with procurement management plans and requirements documents, then move into contract types like fixed-price, cost-plus, and time-and-materials, showing when each is most effective. We’ll also explain concepts like the point of total assumption, which tells you when risk shifts from buyer to seller.

Managing procurement doesn’t end with a signature. We’ll explore monitoring tools such as performance reviews, earned value checks, and relationship dashboards that track vendor alignment over time. You’ll also learn how incentives and penalties can be structured to encourage collaboration instead of conflict. With these tools in hand, procurement becomes a strategic advantage, not just an administrative function. Produced by BareMetalCyber.com.