Procurement & Contract Management - Complete Guide

Name: Procurement & Contract Management - Complete Guide
Rating: 4.5 (370 reviews)

"Master bidding strategies, contract types, risk allocation, and vendor relationships. Earn 3 PDUs.

Created byTim Fairley

Last updated 1/2026

English

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What you'll learn

Procurement and Contracts
The fundamentals of contracts
What is procurement and why it matters
How to manage contracts to increase profits
What is procurement management?
Why procurement matters
Procurement in 4 simple steps
How to think about contracts
Plan procurement management
Writing a scope of works
The make or buy decision
Conducting procurement
Controlling procurement
Understanding markets and supply chains
Understanding construction contracts
Construction procurement routes
Construction procurement and contract management
How to become a contracts manager
AI and construction contracts
Prepare for your PMP exam

Course content

4 sections • 25 lectures • 3h 20m total length

Introduction2:49
Explore the concepts of project procurement management from the PMBoK and apply them in practice to construction projects. Learn planning, procurement, scope of works, make-or-buy, contract management, and AI-enhanced practices.
What Is Project Procurement Management?9:06
Master project procurement management by guiding end-to-end processes—from determining scope and payment to procure, preparing procurement packages and documentation, to selecting suppliers, negotiating contracts, and managing vendors.
Procurement vs Contract Management2:53
Distinguish procurement from contract management in construction, referencing the PMBoK perspective and focusing on subcontractor procurement, head contract administration, scope, tenders, payments, and variations.
The Key To Career Progression3:03
Advance your construction management career beyond on-site delivery to pre-contract work, mastering scheduling, quality management, subcontractor management, tendering, contract formation, and contract management to deliver profitable projects.
Why Is Procurement Essential3:34
Procurement management drives project success by controlling 60–80% of spend on external subcontractors and suppliers, and by early vendor selection to save costs and protect outcomes.
Key Procurement Documents4:38
Identify key procurement documents, including the procurement management plan, package list, and schedule. See how the scope of works, contract terms, pricing schedule, and tender evaluations shape procurement management.
Where Does Procurement Fit In?6:53
Explore how procurement fits into the project lifecycle and all knowledge areas, showing how planning, executing, controlling, and closing procurements influence 60-80% of spend, cost, schedule, quality, risk, and stakeholders.
Procurement Made Simple4:41
Define exactly what to buy from the market, obtain quotes, negotiate and sign a contract, and manage subcontractors to maximize value at minimum cost.
How To Think About Contracts3:37
Think of construction contracts as rulebooks that define what each party must do, when, and how, using a framework to navigate variations and notices.

Section 2 - Introduction0:28
Explore how project procurement management fits into projects and define procurement and contracts. Dive into PMBoK's foundational framework for this topic.
Plan Procurement Management23:17
Plan procurement management defines how to source and manage purchases, detailing make-or-buy decisions, source selection, statements of work, bid documents, contract types, and payment terms.
Writing A Scope of Works12:50
Learn how to write a detailed scope of works and prepare high-quality tender packages to secure best value, accurate quotes, and minimal variations in construction procurement and contract management.
Make Or Buy Decision11:34
Make or buy decisions determine whether to subcontract, self-perform, or use hybrid delivery, and assess safety, cost, quality, and market conditions.
Conduct Procurement8:19
Conduct procurement guides obtaining seller responses, evaluating bids, and awarding contracts to preferred subcontractors and suppliers. The process yields executed contracts and a vetted preferred supplier list.
Control Procurement9:50
Master the control procurement process to manage contract performance and ensure payments match completed work. Use change control, variations, inspections, and audits to enforce contracts and close procurements.

Section 3 - Introduction0:28
Apply procurement and contract management principles to real-world construction projects by examining trends, emerging practices, and concrete examples.
Understanding Markets And Supply Chains4:54
Analyze markets and supply chains to secure goods and services from subcontractors and suppliers at the best price, and align procurement strategy accordingly.
Understanding Construction Contracts21:52
Demystify construction contracts by outlining their simple structure and core terms. Define how scope, time, payment, quality, defects, security and insurances govern risk and enforceability in projects.
Construction Procurement Routes18:01
Explore all construction procurement routes and project delivery methods, from design bid build to public private partnerships, and understand how each model allocates risk, cost, and control.
Construction Procurement And Contract Management33:58
Plan and manage construction procurement and contracts to deliver projects on time and on budget. Learn to design scope, pricing, tendering, and contract administration for best value.
How To Become A Construction Contract Manager6:21
Learn how a construction contract administrator manages contracts, procurement, and payments, oversees head contracts and subcontracts, and controls costs and risk to support project delivery.

Bonus - Launch Your Dream Career0:32
Section 4 - Introduction0:52
Section 4 introduces practice exam questions from the PMBoK to test your understanding of procurement and contract management concepts in construction projects.
Practice Exam Questions
Practice Exam Questions Review4:50
Review ten practice PMP exam questions on project procurement and contract management. Explore inputs like the procurement statement of work, fixed price contracts, bid evaluation, and procurement closure report.
Conclusion0:55
Master procurement contracts by recognizing them as simple agreements that align parties and deliver projects, and use this essential skill to advance your career in project delivery.

Requirements

Motivated to become a better project manager

Description

Master Project Procurement and Management (and prepare for your PMP exam)

The reality is that when we deliver a project we need to outsource work to other companies. That means we need to form, negotiate, sign and adminster contracts. Considering on average 90% of a project's total expenditure is on external parties, learning to understand, form and manage contracts will make you a better project manager.

We've helped over 35,000 students advance their project management careers by mastering these fundamentals.

Learn effective procurement and contract management in just a few hours.

The course is:

Proven - thousands of satisfied students, with 94% reporting career advancement
Practical - developed with industry experts for real-world application
Fast-streamlined content focused on essential knowledge
Resource-Rich - includes downloadable slides and materials

We actively respond to all student questions and continuously improve based on feedback.

Join our Project Procurement and Contract Management Course to ensure your projects are a success no matter what happens.

The course covers:

Section 1 - Introduction
- What is project procurement management
- Procurement vs Contract Management
- Contracts are the key to career progression
- Why is procurement essential
- Key procurement documents
- Where procurement fits in
- Procurement made simple
- How to think about contracts
Section 2 - PMBOK Procurement Management Process
- Plan Procurement Management
- Writing a scope of works
- Make or buy decisions
- Conducting procurement
- Controlling procurement
Section 3 - Construction Applications
- Understanding markets and supply chains
- Understanding construction contracts
- Construction procurement routes
- Construction procurement and contract management
- How to become a construction contract manager
- AI and Construction Contracts
Section 4 - Conclusion
- Practice Exam Questions

Let's get started!

Who this course is for:

Project Managers
Construction Managers
Project Engineers
Contracts Administrators

Procurement & Contract Management - Complete Guide

What you'll learn

Explore related topics

Course content

Introduction9 lectures • 41min

Section 2 - Fundamental Concepts6 lectures • 1hr 6min

Section 3 - Practical Applications6 lectures • 1hr 26min

Section 44 lectures • 7min

Requirements

Description

Who this course is for: