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Manage Vendor Performance
In order to deliver excellent service to the organization, IT must ensure that the services delivered by key vendors are of adequate quality and meet time commitments. Achieving a high level of service or product delivery from vendors generally requires three components: establishing a set of performance targets with the vendor, measuring performance against these targets, and promptly addressing issues and gaps between the actual and the target performance.
Manage Vendor Performance has three steps:
- Establish Performance Measurement Process.
- Evaluate and Improve Performance.
- Renew, Renegotiate or Terminate Contract.
When you have completed the first two steps, you will have a solid basis for ensuring that the vendor is meeting their obligations and that any issues are resolved in a timely manner. The third step will ensure that the organization maintains contracts only with vendors that deliver to agreed standards.
Vendor Management
Bundle 3 of 3
| Steps | Tools | Related Research |
|---|---|---|
| FastTrack Activity |
Manage Vendor Performance FastTrack
|
|
| Establish Vendor Management Responsibility |
Key Vendor List
Vendor File
|
|
| Establish the Performance Review Process |
Performance Metrics Guide
Performance Metrics Tracking Document
Escalation List Template
|
|
| Maintain a Record of All Issues and Manage Their Resolution |
Issue Log Template
|
|
| Establish Process and Responsibility for Checkpoint Review and Decision Making |
Contract Management Policy
|
|
| Manage Ongoing Contractual Obligations and Renewals with Vendors |
Contract Management Tool
|