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:

  1. Establish Performance Measurement Process.
  2. Evaluate and Improve Performance.
  3. 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 Word Document Manage Vendor Performance FastTrack  
Establish Vendor Management Responsibility Excel Document Key Vendor List
Excel Document Vendor File
Establish the Performance Review Process Word Document Performance Metrics Guide
Excel Document Performance Metrics Tracking Document
Word Document Escalation List Template
Maintain a Record of All Issues and Manage Their Resolution Word Document Issue Log Template
Establish Process and Responsibility for Checkpoint Review and Decision Making Word Document Contract Management Policy  
Manage Ongoing Contractual Obligations and Renewals with Vendors Excel Document Contract Management Tool
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