Make-or-Buy Analysis

Make-or-Buy Analysis is the process of gathering and organizing data about product requirements and analyzing them against available alternatives, including the purchase or internal manufacture of the product As part of the Procurement Management Plan, we do a Make-or-Buy Analysis which results in the Make-or-Buy Decision Make-or-buy analysis may use payback period, return on investment […]

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Make or Buy Decision

A make-or-buy decision is an act of choosing between manufacturing a product in-house or purchasing it from an external supplier.  A make-or-buy decision compares the costs and benefits associated with producing a necessary good or service internally to the costs and benefits involved in hiring an outside supplier for the resources in question. Strategic decisions […]

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Point of Total Assumption (PTA)

The Point of Total Assumption (PTA) is the point above which the seller starts assuming the cost of the contracted work The point of total assumption (PTA) is a point on the cost line of the profit-cost curve determined by the contract elements associated with a fixed price plus incentive-Firm Target (FPI) contract above which the seller effectively bears all the costs of a cost overrun.  In the contract, the buyer agrees […]

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Project Procurement Management – PMP/CAPM

No organization can deliver a project in a silo, they would need to buy a product, services or a combination of both from outside to deliver the project objectives. Project Procurement Management refers to the goods and services required to complete the project. These can be procured from other parts of the organization involved in […]

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Project Procurement Management Video- PMP/CAPM (PMBOK 6 – ECO 2019)

Project Procurement Management Project Procurement Management is a knowledge area where you would be using all skills that you have learned in other 9 knowledge areas.  The Project Procurement Management processes deal with purchasing goods or services from vendors, contractors, suppliers, and others outside the project team. When we see the Procurement through the lenses of […]

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