Outsourcing is becoming more and more critical in todays economic environment making it essential that a project manager in the multi-national marketplace have a firm understanding of the negotiating, contracting and procurement environment and potential pitfalls. This course will address the interdependence of the make-or-buy decision-making process and the success of many projects in terms of risk management as well as achieving acceptable financial goals. Students will explore contracting pitfalls by addressing and proving an understanding of the key factors, regulations, and vocabulary which are critical for the project manager to be able to employ in their business dealings with contracting and legal departments.