Understand the Vendor Management Framework
The training will introduce to you the three pillars of Vendor Management (Commitments, Relationships, and Metrics). You will see how you already do some of the things we talk about and how they fit in the big picture of the vendor management framework. Read more about vendor management in our blog.
Understanding Who Is Responsible for What in Vendor Management
When we think about vendor management, our first reaction is to address the Procurement team. Are they solely responsible for working with the vendors? Can anyone else in the company working directly with vendors bear some responsibilities and if yes – what are they? Come to the training to find out!
Practice! Practice! Practice!
80% of this training is interactive as you either work in a team solving a real-life case study or you discuss with the group examples of your current situations at work. This is an excellent way to practice and make use of the theory we discuss.
Get introduced to our team of Project Management trainers and business simulation facilitators. All of our trainers are Project Management certified professionals with years of experience in managing complex projects of different scope and geographies.
Consultant & Trainer
Elena specializes in Project Management, Vendor Management and Performance Management. She has vast experience working in multicultural environments with teams composed of people with variety of personal and professional backgrounds as well as profound understanding of team dynamics.
Consultant & Trainer
Mihail has 20 years of experience and proven track record in achieving results in a demanding and challenging international environment across various industries.
He is a highly experienced trainer, known for this engaging training classes and workshops where he shares valuable lessons gained during his career and goes beyond project management practices as he expands on leadership and communication skills, team performance, managing transitions and other critical skills for the modern manager.
Mihail is the President of PMI Bulgaria Chapter.
Senior Consultant & Consulting Practice Manager
Julia Oliveira is a highly qualified IT Service Management and Project & Portfolio Management Senior Consultant with more than 15 years of experience in the industry. She has successfully lead some of the largest ServiceNow projects in Southeast Europe.
What you’ll learn
- Vendor Management Success
- Procurement Life Cycle
- Procurement Life Cycle vs. Vendor Management
- Three Pillars of Vendor Management Success
- Vendor Selection Techniques and Considerations
- Exchange of Commitments to Vendor Management Success
- Various Types of Vendor Agreements
- Evaluation of Bid Proposals
- Structure and Purpose of Contracts
- Creating Effective SOWs
- Contract Type in Relationship to Delivery Risk
- Managing Vendor Relationships
- Vendor Governance Practices and Procedures
- Changing Controls Systems
- Escalation Pathways
- Negotiating in a Principles Way
- Sharing Success with Vendors
- Alternative Dispute Resolution Techniques
- General Management Skills
- Vendor Metrics
- Focusing on the Best Metrics not the Easy Ones to Collect
- Application of KPIs
- Role of the Responsibility Assignment Matrix (RASCI)
- Score Cards and Vendor Performance Reporting
- Balanced Score Cards
- Continuous Improvement
- Various Sources of Vendor Related Risk
- Manage Discrete Vendor Risks
- Apply Risk Minimization Guidelines
If you have teams that manage projects or operations and work closely with vendors, the training can be delivered in a closed group for your company. Thus, we can discuss a work scenario in the group, increase team work, and clarify specific roles and responsibilities in the team if there is such a need. Contact us for a free consultation how to make the most out of the training!
Frequently Asked Questions
Who should attend?
Anyone who interacts with vendors, either as a manager or a user of vendor supplied services. These could be (but are not limited to): project managers, IT managers, project coordinators, team leaders, product managers, program managers, project team members, subject matter experts, analysts, stakeholders, and senior managers who want to get more out of their teams.
Are there any prerequisites for the training?
As this is an introductory level training, there are no prerequisites for attendance requiring neither other trainings, nor preliminary experience.
Can the training be customized?
Yes! The training is accredited by Global Knowledge and the training materials cannot be changed. Still, if you are a closed group, the class discussions can be addressing issues specific to your company and there could be additional team building exercises incorporated in the course. Call us to discuss what you need and how this training can help you!
I am a project manager, would it be useful to me to attend a Vendor Management training?
Yes! During the Vendor Management training, the topic of managing our partners is extended and we review in details the structure and management of contracts as well as good practices how to organize the work with our vendors in a way that decreases the chances for conflict development, promotes constructive problem solving and enhances teamwork.
Does the training provide Professional Development Units (PDUs)?
Yes! It provides: 10 Technical PDUs and 4 Strategic and Business PDUs.
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