The federal government procures over $400 billion in products, services, and supplies each year. In order to effectively manage the procurement of these products, services, and supplies one must have a detailed understanding of the procurement policies, practices, and processes. This course provides an introduction to the procurement and contracting processes used by most federal agencies and private industry with specific emphasis on contract management and the change control processes used to administer contracts. Participants in this course will also develop an understanding of the key stages, reviews, and milestones involved in leading a procurement activity to a successful outcome, whether the project is building a satellite or deploying a new IT system. Best practices, techniques, and methodologies aimed at improving procurement outcomes will also be discussed in detail. Participants will study key sections of the Federal Acquisition Regulations (FAR), related procurement regulation supplements, and additional requirements placed on procurement activities
Participants in this course will be considered the leaders of a project procurement activity. Accordingly, leadership attributes, negotiation skills, and conflict resolution techniques will be examined. In order to gain a deep understanding of project procurement, class exercises and case studies based on the instructor’s extensive experience in federal procurement as well as case studies and articles in Harvard Business Review and other journals will be introduced. Course participants will learn aspects of contract management, program management, practical aspects of cost and schedule estimating, financial management, risk management, technology management, and team management. At the end of this course, each participant with be armed with the best practices, tools, techniques, and checklists to execute a successful procurement of products, services, or supplies.
Upon completion of this course, successful students will be able to:
- Understand the project procurement lifecycle key stages, reviews, and milestones.
- Summarize and discuss the activities within each procurement stage such as initiation,planning, executing, monitoring and controlling, and closeout.
Develop an effective procurement strategy for buying products, services, or supplies.
- Select the appropriate contract type for specific products, services, and/or supplies.
- Discuss techniques to judge cost and schedule estimates from proposals, quotations, or bids.
- Identify potential conflicts of interest and ethical issues in the procurement process.
- Select the appropriate metrics to manage and balance the key drivers of cost, schedule, and performance.
- Review federal policies, processes, and training aimed at improving acquisition outcomes.
NotesThis course is an open enrollment course. No application is required and registration is available by clicking "Add to Cart." Current students must register with their Georgetown NetID and password. New students will be prompted to create an account prior to registration.
Applies Towards the Following Certificates
- Certificate in Budget & Finance : Elective