Do you think it’s easy to finish Procurement Knowledge Management area? You may think you never try to use terms like contracts, agreements, terms and conditions…etc in your projects. Most of the people who work on projects think it’s not their job to remember above terms. You may think failure of the project may result into familiarity to these terms and it’ll be handled by some other person in the organization or your legal department. In my aspect, everyone in the project team must be aware of the terms and conditions of the project.
Ask a question to yourself, “how many times you read the EULA (End User License Agreement) of Microsoft products when you install?”
At least once...I’m sure, 99.99% will not read it.
How many times you copied “terms and conditions” section into proposal documents when you send it to customers?
There is a strong reason behind it. The buyer and seller always want his project to be successful. Sometimes they may ignore few mistakes without reviewing the contracts, SLA s…etc. But it’s not the case in every project, which means every project will not execute in forgivable environment.
If I say buyer and seller, these terms may appear different for your project. You may call buyer as customer, if you work in product development / service oriented organization. Again customer may have another buyer if he gives project for sub contract.
All the above procedures you’ll be familiar when you complete Procurement Management knowledge area revisions (not in 1st study, remember the difference : - ) ).
Think about following points…
A lot more, you must study RITA guide to understand all the information. Don’t try to memorize, have a logical conclusion on processes. Apply the knowledge in exam, because you never know what type of scenario will be described in the exam. PMBOK guide gives sufficient information which may or may not be helpful to visualize all scenarios in Procurement Knowledge Area.
Now my third revision of PMBOK and RITA guide is completed?
I still have 6 days to exam; my little hopes are increasing on pass result of the examination.
Ask a question to yourself, “how many times you read the EULA (End User License Agreement) of Microsoft products when you install?”
At least once...I’m sure, 99.99% will not read it.
How many times you copied “terms and conditions” section into proposal documents when you send it to customers?
There is a strong reason behind it. The buyer and seller always want his project to be successful. Sometimes they may ignore few mistakes without reviewing the contracts, SLA s…etc. But it’s not the case in every project, which means every project will not execute in forgivable environment.
If I say buyer and seller, these terms may appear different for your project. You may call buyer as customer, if you work in product development / service oriented organization. Again customer may have another buyer if he gives project for sub contract.
All the above procedures you’ll be familiar when you complete Procurement Management knowledge area revisions (not in 1st study, remember the difference : - ) ).
Think about following points…
- Contract types
- Terms and conditions
- When do you plan for procurements?
- When do you conduct procurements and what are the tools?
- Is procurement manager different from project manager?
- Is procurement audit is different from the project audit?
- Is procurement closure different from project closure?
- When do you administer procurements?Do you need to mention about status reports in procurement documents?
- Can you buy the product instead of developing?;
- How can you select a seller? Remember you always need to think as buyer unless it’s explicitly mentioned any where in the problem.
A lot more, you must study RITA guide to understand all the information. Don’t try to memorize, have a logical conclusion on processes. Apply the knowledge in exam, because you never know what type of scenario will be described in the exam. PMBOK guide gives sufficient information which may or may not be helpful to visualize all scenarios in Procurement Knowledge Area.
Now my third revision of PMBOK and RITA guide is completed?
I still have 6 days to exam; my little hopes are increasing on pass result of the examination.
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