Vendor Management and Outsourcing

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Duration: 1 day (7.5 Strategic & Business PDUs)

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Course Overview

More and more organizations are taking on the role of integrators, where large portions of projects are contracted out to third party vendors. For project managers this involves making sure that the third party delivers on the agreed contract. However, in today’s business environment, change is inevitable, so the initial requirements laid down in the contract may need to be changed before the work is complete. How is all this managed?

This one day, practical course is designed to assist project managers in negotiating contracts with third-party vendors and managing these relationships through to successful conclusions. Although there are obvious benefits in terms of cost savings and organizational flexibility, vendor management does add complexity. Attending this course will expose you to the potential pitfalls and the steps needed to avoid them.

For whom is this course suitable?

This course is aimed at project managers who are on both sides of the outsourced relationship. It will provide those outsourcing work with the tools to set up contracts and manage them, while those undertaking contracted work will be aware of the consequences of different contract types and how to avoid contracts that transfer an unfair amount of risk on the vendor.

Learning Outcomes

At the end of this workshop, the student will be able to:

  • Differentiate between outsourcing and offshoring
  • Decide when outsourcing is appropriate
  • Distinguish between the strategic, transitional and operational phases of the outsourcing process
  • Establish effective vendor relationships through strategic outsourcing
  • Choose contracts appropriate to the work being outsourced
  • Manage the performance of the work
  • Deal with issues arising during the work, when performance is not satisfactory

Course Content

  • Introduction to Vendor Management and Outsourcing
    • Outsourcing & Offshoring
    • Outsourcing decision frameworks
    • Predicting successful outsourcing
  • The Outsourcing Process
    • Strategic phase
    • Transition phase
    • Operational phase
  • Strategic outsourcing
    • Identification & assessment
      • Market search, assessment and supplier qualification
    • Audit and approval
      • Detailed audit, confidentiality, approved supplier list
    • Project execution
      • Contract negotiation, kick-off, execution
    • Performance management
      • Supplier report card, post contract review, continuous improvement
    • Exercise: Fears of buyers & suppliers
    • Service Level Agreements
  • Contract management
    • Why is contract management important?
    • What are the phases of a contract?
      • Pre-contract engagement
      • Contract set-up
      • Contract management
      • Contract close out
    • How to negotiate and write a contract?
    • What are the different types of contracts?
    • The ins and outs of settling contractual disputes
    • Contract lifecycle management and best practices
  • Review
    • Recap/Q&A session
    • Transfer to work situation
    • Close

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