Vendor and Third Party Questions
“Vendors and third parties are becoming a large component of almost every corporate project, especially those that have a technology component. Offshore service offerings have complicated the picture by adding geographical and cultural challenges.”
“Here are some of the questions that the rescue manager should ask vendors and other third parties before signing deals with them:
- What metrics are used to evaluate your representatives? You want to ensure that the vendor resources are rewarded only if your project rescue effort is successful.
- What happens if you miss your deadlines? You need to judge whether the vendor has enough at stake to make sure that you are going to be successful.
- How do we reach your consultants during off hours and on the weekend? Since your project team will likely be working long, hard hours, you want to ensure that the vendor resources will also be accessible if they are needed.
Who in your company needs to sign off on key decisions and pricing? What is the process? You want to be able to get the best prices, the best service, and whatever else you need to succeed. You want to involve a vendor executive who can totally bypass internal obstacles if you need extra support.”