If you’re planning to take the PMP (Project Management Professional) exam in 2025, you’re in the right place. The PMP exam is no small feat, but with the right materials and a clear understanding of what’s changed this year, you’ll be well on your way to earning that coveted certification. […]
Read moreLooking 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 […]
Read moreNeed 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 […]
Read moreWant 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 […]
Read moreLooking 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 […]
Read moreWant a contract that motivates your seller to perform better while controlling costs? Let’s explore the CPIF contract! A Cost Plus Incentive Fee Contract, or CPIF, reimburses the seller for costs and adds a profit if they meet performance targets. You need CPIF when you want to control costs while […]
Read moreWant 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 […]
Read moreWant 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, […]
Read moreEver 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 […]
Read moreWant to keep your projects on budget? Let’s talk about controlling costs—one of the most critical skills for project managers. Control Costs is the process of tracking and managing project expenses to ensure they align with the budget. You also update costs and handle any changes to the cost baseline. […]
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