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The Importance of a Project Management Plan As the project manager, you’ve been involved in all the aspects of marketing, proposal, and contract negotiation for the project. You have the final signed contract in hand that clearly indicates the scope, schedule, and price for completing the project. So why do you need a project management plan? You already have it. Wrong! You may have a scope of work, but not the sequencing plan. In addition, the scope of work usually has not been developed in the contract to the level of detail that allows the desired level of project control.…
If supply chain management were a puzzle, Key Performance Indicators (KPIs) would be the essential pieces that help you put it all together. These metrics are your compass, guiding you through the challenging labyrinth of procurement activities. But with a plethora of KPIs out there, which ones should you focus on? I am about to unveil the top 10 procurement KPIs that will make your life easier and your supply chain smoother. Incorporating Humor into KPIs Now, before we wrap up, let's inject a bit of humor into this serious KPI discussion. After all, who said KPIs couldn't be fun?…
In an era where sustainability is no longer a buzzword but a guiding principle, the concept of sustainable procurement has taken center stage. Today, we embark on a journey to explore the world of sustainable procurement, shedding light on its best practices and the array of benefits it brings to both businesses and the broader society.   Understanding Sustainable Procurement   Sustainable procurement, in essence, represents a commitment by organizations to source goods and services in a manner that considers economic, environmental, and social factors. It's more than just a box to tick; it's a strategic choice with far-reaching implications.…
Managing a small number of the same suppliers is relatively easy. But when you have many suppliers, and a steady stream of new ones, things can get tricky. Following is a systematic process for onboarding new suppliers without disrupting engagements with existing partners. Step 1: Develop a standard process for supply chain discovery, shortlisting and approval. Standardization allows you to leverage the experiences you have had with past and existing suppliers so you can extract optimal value from your relationships. It also minimizes the risk of choosing the wrong supplier and adversely affecting your organization’s operations. Investigate supplier reliability and scalability…
Project Management Institute (PMI)® PDUs/ContactHours: 3.25 LinkedIn Learning has been reviewed and approved by the PMI® Authorized Training Partner Program. This course qualifies for professional development units (PDUs).The PMI Authorized Training Partner logo is a registered mark of the Project Management Institute, Inc.   National Association of State Boards of Accountancy (NASBA)® Continuing Professional Education Credit (CPE): 8.6 LinkedIn Learning is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Recommended NASBA Field of Study: Business Management & Organization  
PROJECT According with the Project Management Body of Knowledge guide (PMBOK®), fourth edition, a Project is a temporary endeavor undertaken to create a unique product, service, or result. The temporary nature of projects indicates a definite beginning and end. The end is reached when the project’s objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists. PROJECT MANAGEMENT Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Project Management is achieved…
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