Vendor Relationship Management

To meet increasing business and project demands, organizations often turn to outside vendors for help. To your internal and external stakeholders, vendors are an extension of the project team and must be managed well. The savvy project manager needs to be prepared to effectively manage all aspects of vendor relationships, from selecting the right vendor, to getting the right results.

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Key Outcomes

Upon completion of this course, participants will be able to:

  • Discuss how the contract provides the framework for managing the relationship
  • Identify the differences between working with a vendor resource versus an in-house resource
  • Discuss the importance of relationships with contracted resources
  • Use negotiation as a tool for managing vendor resources
  • Engage in difficult conversations with vendor resources

Course Outline

Planning for the Vendor Relationship   

  • Explain the processes of project procurement management
  • Discuss the importance of effective Vendor Management
  • Explain the vendor selection methods
  • Discuss management challenges associated with different types of contracts
  • Identify important provisions to be covered in a Statement of Work (SOW) that enable effective vendor management
  • Develop vendor performance measurements
  • Discuss the importance of change management in the execution of the contract

Working with the Vendor   

  • Discuss the relationships with different members of your vendor team
  • Define key steps in establishing a relationship with our vendor contract oversight resources.
  • Explain the Human Resource difference between a company employee and a contracted resource
  • Use principled negotiations as a method of addressing conflicts with vendor resources

Monitoring the Vendor   

  • Identify appropriate communication strategies
  • Discuss escalation process for contracted resources
  • Discuss vendor relationship issues and their impact on stakeholders

Critical Conversations

  • Recognize the need for difficult conversation
  • Identify common reactions to critical conversations
  • Name best practices for holding critical conversations
  • Outline the steps to having successful critical conversations
  • Prepare for and hold critical conversations with increased success
  • Use difficult conversations as a tool for moving your project forward