PPMP20011 is one of the most reputed courses which is a part of Central Queensland University. Students of this post-graduation course can acquire the required skill set, knowledge, and techniques required for acquiring the external products and the services which are desired from commercial establishments. This course can be helpful for the students to understand the different types of negotiation strategies required for addressing the probable risks which come in during a procurement procedure. The diverse categories of procurement standards which are needed to be maintained can also be identified in the first place from this course code. Ethical aspects of the commercial constructs are discussed in this course code in a detailed manner. A total of 150 hours is required for the completion of this course code.
Location: Brisbane, Melbourne, Online, Perth, Sydney, Australia
Study Level: Postgraduate
Unit Code: PPMP20011
There are different categories of topics which are covered in each of the three assessments such as buyer contractor relationship, procurement standards, types of negotiation strategies, addressing conflicts and delay in the procurement process, risk management for the procurement activities, principles of tendering, negotiation approaches, financial and technical aspects of commercial contracts, and forecasting expenditure of a procurement.
The course gives an idea about the fixed price contract, and cost-plus contracts in a detailed modus. The buyer contractor relationship is very much significant for ensuring the success of any negotiation which takes place in any engineering project. This relationship is much significant in maintaining transparency in a complex project environment. New benchmarks can be set in the first place to avoid any kinds of confusion if a positive relationship is maintained between the buyer and a contractor. Ownership issues of any construction-based project can also be addressed in the first place by the buyer contractor relationship.
The course also highlights about Procurement standards need to be maintained across each site of a project for avoiding issues like impropriety. At the same time, the course also highlights the different types of negotiation strategies such as distributive strategy, interrogative strategy, multiparty negotiation, team negotiation, and positional negotiation strategy. However, there are few challenges that are associated to negotiation in terms of the presence of short-tempered people and sarcastic people in the negotiation process. The course is also very much useful in understanding some of the most common causes of delay such as lack of expertise, changes in the scope of the project, failure to start the procurement activities on time, delay in the opening bids or the proposals, delay in finishing the evaluation procedure and extension of the bid proposal date. Delay in the negotiation process, and the approval process are the other reasons behind delay in a procurement procedure. Addressing conflicts and delay in the procurement process was the other lesson learnt in this code. Addressing technical issues in every stage of a project is very much crucial for addressing delay in procurement activities. Maintaining an open communication, and building a trust into the system are the two ways which can help in addressing the conflicts which are associated to contract negotiations. At the same time, there are few risks which are associated to the procurement processes such as shortage of talent, delay in the procurement processes, manual internal processing, crude contract management processes, poor vendor selection, and inaccurate internal analysis. However, Risk management for the procurement activities was discussed in this course code as well, visualizing the supply chain of the industry during the creation of the contracts, introduction of cloud-based automated systems and creation of a robust vendor sourcing strategy, and development of matrices for evaluating the performance of suppliers can be much helpful in addressing the threats related to the procurement process. Procurement risks can also be addressed if the spending patterns of the buyers is identified, at the same time contract management is also useful in addressing the delays in the procurement procedures.
Principles of tendering include maintaining the accountability, consistency, and integrity of the negotiation process; it is very much useful for minimizing most of the errors in the procurement processes. The course also highlights some of the negotiation approaches such as distributive negotiation, integrative negotiation. At the same time, there are other negotiation strategies as well such as principles negotiation, soft negotiation. At the same time, there are a few approaches that need to be considered in the negotiation process as well such as collaboration, avoiding, accommodating, and competing. Financial and technical aspects of commercial contracts revolve around the 6 key clauses such as maintaining the confidentiality of the contract, force majeure, termination triggers, jurisdiction, dispute resolution, and damages. Forecasting expenditure of procurement was the other lesson learned in the procurement procedure, this procedure is very much significant in the act of predicting demand, supply, and pricing in the industry. There are a few methods that can be used in the forecasting procedure as well such as straight-line, simpler linear regression, and multiple linear regression. Each of these forecasting methods can help in setting measurable goals based on the historical data of the organization. Thus, it can be said that this course code can be much helpful for students for understanding the insight of contract and procurement processes. The challenges as well as the ways to mitigate them is critically discussed in this course as well.
The unit level of this course is 9 and the credit point of this course is 6. The weightage of this course code is distributed among three assessments tasks. The first assessment task is the online quiz and the weightage of the quiz is 10%, after that there is a practical assessment that weighs about 40% of the weightage and the final group work of this project is the rest 50% of the marks. An overall mark of 50% needs to be maintained by the students of this course for passing the unit. The minimum passing mark for each of the three assessments task is 50%.
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