PMI Archives - Project Management Bootcamp

Seller Proposals

Need to evaluate vendor options for your project? Let’s dive into Seller Proposals! Seller Proposals are formal responses to procurement requests like RFPs, detailing prices, terms, and technical capabilities. You need seller proposals when choosing the right vendor for your project based on price, quality, and fit. To use them, […]

Request for Quotation (RFQ)

Looking for the best price on products or services for your project? Let’s break down the Request for Quotation, or RFQ! An RFQ is a document where the buyer asks sellers for price quotes on common or standard products and services. You need an RFQ when you want to compare […]

Request for Proposal (RFP)

Need detailed proposals for your project from potential vendors? Let’s talk about the Request for Proposal, or RFP! An RFP is a document where the buyer asks sellers to submit detailed proposals for products or services. You need an RFP when your project requires more than just a price. You […]

Control Procurement

Want to make sure your contracts run smoothly? Let’s dive into controlling procurements—key to managing successful project deals. Control Procurements is the process of managing procurement relationships, monitoring contracts, making adjustments, and closing them out. Why do you need it? Because without controlling procurements, contracts can go off track, causing […]

Time and Material Contract (T&M)

Looking for flexibility in managing project costs while keeping control? Let’s explore the Time and Material Contract, or T&M! A T&M contract combines elements of both cost-reimbursable and fixed-price contracts. You pay for time worked and materials used. You need a T&M contract when scope isn’t fully defined, and you […]

Request for Information (RFI)

Need clarity before choosing the right vendor for your project? Let’s talk about the Request for Information or RFI! An RFI is a document where the buyer asks potential sellers for details about a product, service, or capability. You need an RFI when you’re exploring options and gathering insights from […]

Firm Fixed Price Contract (FFP)

Want price certainty in your projects without surprises? Let’s talk about the Firm Fixed Price Contract! A Firm Fixed Price Contract, or FFP, means the buyer pays a set amount, no matter what the seller’s costs are. You need FFP when your project scope is clear, and you want to […]

Contract Risks by Type

Want to know how contracts can impact your project’s risk? Let’s break down contract risks – a key to smart decision-making! Each contract type comes with different risks for both the buyer and the seller. Why does this matter? Some contracts, like Cost Plus Percentage, are risky for buyers because […]

Plan Procurement Management

Want to nail your project’s resources and vendors? Let’s dive into Plan Procurement Management – the roadmap to getting what you need! Plan Procurement Management is the process of documenting procurement decisions, outlining the approach, and identifying potential sellers. Why is it important? It ensures you get the right resources, […]

Variance Analysis

Ever wonder why your project deviates from the plan? Let’s explore Variance Analysis! Variance Analysis is a technique to determine the cause and degree of difference between the baseline and actual performance. Why do you need it? To identify issues early and take corrective actions. It helps you stay on […]