9. Procurement Basics: Managing Vendors and Contracts
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About this listen
Vendor relationships can make or break your project, yet many project managers lack formal procurement training. This episode walks through the complete procurement process with practical techniques you can apply immediately. Learn how to write focused RFPs that attract better responses by answering three essential questions instead of creating 50-page documents that eliminate smaller vendors. Discover how to evaluate proposals objectively using scoring matrices and blind evaluation techniques that counter unconscious bias. We cover contract negotiation fundamentals including payment terms tied to deliverables, specific acceptance criteria, warranty periods, and termination clauses that protect your project. You’ll learn how to create vendor management plans covering communication cadence, performance monitoring, and issue escalation. We address preventing informal scope creep through formal change control, ensuring knowledge transfer so expertise doesn’t walk out the door, and building partnership dynamics while maintaining professional accountability. Perfect for project managers who want vendors to become force multipliers rather than sources of problems, with actionable strategies for turning procurement into a project strength.
Project Management in Practice Series
This episode is part of a structured series that organizes episodes into a coherent curriculum for practising project managers. It keeps each episode self-contained while allowing listeners to follow a logical progression from project initiation to delivery control. Each focuses on a concrete, practical aspect of day-to-day project delivery.