Key Components of Vendor Contract Close Out

$395.00


  • Virtual Classroom

  • Onsite

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Duration: 1 Day

Managing vendor relationships is a key element of any successful project, and a major part of that process is managing the conclusion of the contract. In this short course, you will learn techniques to help you plan for contract closure and align your project interests with procurement and legal requirements. You'll examine the signs leading to early contract termination and learn how to approach dispute. In the end, you'll be able to use contract closure to build stronger relationships with your vendors.

Virtual short courses do not include materials or headsets.

What You Will Learn

 

  • Steps to successful procurement management
  • Key elements in contract close out
  • Approaches to disputes
  • Keys to effective vendor audits
  • Developing an effective close-out checklist

Audience

 

PMP-certified project managers, IT project managers, project coordinators, project analysts, project leaders, senior project managers, team leaders, product managers, program managers, project sponsors, and project team members who want to continue to develop their skills and renew their PMP certification.

Prerequistes

 

Course Outline

 

1. Project Procurement Basics

  • Processes
  • Categories

2. Procurement Planning

  • Expectations vs. Terms and Conditions
  • Closure Plans
  • Approaches to Disputes

3. Contract Administration

  • Approaches to Monitor Vendor Work
  • Vendor Communications
  • Managing Change

4. Contract Close Out

  • Contract Audits
  • Close-Out Checklist
  • Handling Follow-On Work

Course Labs