SPONSORS

SPONSORS

Project Procurement3

 

BOOK REVIEW

Book Title:    Project Procurement: A Real-World Guide to Procurement Skills
Author:  Ajay Bhargove
Publisher:  Project Management Institute
List Price:   $24.95
Format: Soft cover, 118 pages
Publication Date: Feb 2018
ISBN: 978-1-62825-468-6
Reviewer: Cassandra de Souza
Review Date: August 2018

 



Introduction

Although procurement is a major part of project management, many project managers have a limited knowledge and understanding of the key terms and aspects of this area besides what is required in the PMBOK. This book provides a broad overview of procurement terms and terminology allowing project managers to get a better grasp of the relevance and skills required from procurement professionals while also identifying or recognizing areas in which they can better utilize their procurement team to reduce costs and improve on project delivery in terms of time.

However, the title is a bit misleading in that it doesn’t always provide real world examples which could build procurement skills in the different areas discussed though this could be strengthened by adding such examples to subsequent editions.

Overview of Book’s Structure

The table of contents very clearly outlines the structure of the book and diligently follows the standard procurement cycle. Where the book structure deviates from the procurement cycle is the inclusion of chapters 8, 10 and 11 on How Finance Views Procurement Savings, Financial Risks Analysis and Incoterms. It seemed a little odd not to include the Incoterms chapter in between the chapters on Contracts and Negotiation, given that the selection of which Incoterms to use would be a key part of any negotiations.

The inclusion of the chapters on How Finance Views Procurement Savings and Financial Risk Analysis provides a solid foundation for how procurement can more intimately be correlated to other aspects of project management than might otherwise be understood by non-procurement professionals. These are helpful at placing procurement more centrally within the overall planning and risk management of project management because it includes discussions of what to be aware of when selecting and considering supplier and vendor choices as well as buyer organizations. These chapters also make the case for integrating project teams early on in project planning because the knowledge and expertise of financial analysts and risk management professionals who can work with procurement professionals would be highly beneficial to the project organization. These combined teams could look at possible intrinsic and extrinsic factors that may be at play for potential suppliers or vendors, identify what types of hedging might be necessary for currency fluctuations, or even understand what benefits the procurement team can bring to the profit margin and therefore allow the sales team to pitch a lower bidding price for a project.

More…

To read entire Book Review, click here

 



About the Reviewer


Cassandra de Souza

Maryland, USA

 

 

Cassandra de Souza is an independent consultant working in international development, with a focus on international health projects for the past 15 years. A recent newcomer to the Project Management Professional certification, Cassandra has successfully designed and managed multiple projects valued from US$500,000 to $100 million on health systems strengthening, HIV/AIDS, maternal and child health, reproductive health, tuberculosis and pharmaceutical regulatory harmonization. Cassandra holds 2 Masters degrees from The George Washington University, in Business Administration and International Affairs.

Email address: [email protected]

 

Editor’s note:  This book review was the result of a partnership between the publisher, PM World and the PMI Silver Spring Maryland Chapter. Authors and publishers provide the books to PM World; books are delivered to the PMI Silver Spring Chapter, where they are offered free to PMI members to review; book reviews are published in the PM World Journal and PM World Library.  PMI Silver Spring Chapter members can keep the books as well as claim PDUs for PMP recertification when their reviews are published. 

If you are an author or publisher of a project management-related book, and would like the book reviewed through this program, please contact [email protected].