A four-year bachelor's degree program in contract management and procurement is generally a specialization of a Bachelor of Business Administration degree. The contracts students study during this program are primarily those concerning purchases of services or merchandise that are required for a business to make and sell its own commodities. In addition, specialization programs in project management often include many of the same courses as a procurement and contract management program. The specialization can also be called logistics and supply chain management.
Bachelor's Degree in Contract Management and Procurement
In these programs, students complete general education courses in topics such as English composition, social studies, and mathematics, as well as in core business topics including business law, managerial accounting, management information systems, and organizational behavior. In many programs, a quarter of the total curriculum is made up of courses related to contract management and procurement topics. Of the 120 credit hours common to earning most BBA degrees, many schools require that approximately 27 of those hours be in the area of the specialization. Common courses include:
- Administrating and managing contracts
- Contract and procurement laws
- Federal acquisitions and strategic purchasing
- Managing supply chains and analysis of costs
- Negotiating contracts and purchases
- Project management
Employment Outlook and Salary Information
The U.S. Bureau of Labor Statistics (BLS) projects that the number of purchasing manager jobs is going to increase 4% during the period 2018-2028. In May 2018, the median annual wage for purchasing managers was $118,940 per year.
Students interested in continuing their education can enroll in a Master of Business Administration degree program. Earning this degree may offer individuals an opportunity to become executives with an organization or company.
Individuals are eligible to test for certifications after they have met education and experience requirements. The Institute for Supply Management has offered the Certified Purchasing Manager (C.P.M.) designation since 1974. In 2008, it was renamed Certified Professional in Supply Management (CPSM) to match the enlarging number of responsibilities in the field. However, the C.P.M. remains current since it is renewable as long as certificate holders care to renew it.
The American Purchasing Society offers two certifications, the Certified Purchasing Professional (CPP) and Certified Professional Purchasing Manager (CPPM). Professionals may also test for the Certified Supply Chain Professional (CSCP) through the Association for Operations Management.
Government workers have two distinctive certifications available through the National Institute of Governmental Purchasing. These are the Certified Professional Public Buyer (CPPB) and Certified Public Purchasing Officer (CPPO).
Education for contract management and procurement experts is likely to be found at the bachelor's level, with the option to move on to a master's program after graduation. Students will learn skills to prepare them for a number of jobs in the field, as well as be able to earn professional certification.