Ready to use prioritized Vendor Performance Management requirements, to:
Make sure the Analyst, Strategic Sourcing and Procurement Risk and Performance Monitoring (RPM) supports both your team of third-party risk assessors throughout the Third-Party Risk and Due Diligence process as well as your Vendor Owners and Business Owners in completing their vendor performance management activities. .
- Does the vendor have a process for performance issues and escalation?
- How does your organization monitor vendor performance and document performance problems for followup?
- How does vendors project management staff provide for measuring and reporting on project performance during project execution?
- Can the vendor handle extreme scale and performance and have a track record of success to support it?
- Does the contract with the vendor have any performance guarantees?
- You may have limited economic or legal protection for product performance, is the vendor economically viable for at least the length of the support agreement?
- How do you communicate the performance of your most strategic providers and of your vendor management program?
- How frequently does the vendor plan to conduct performance or system upgrades?
- Do you have the right tools and expertise to achieve your Supplier Performance Management goals?
- What methodologies, processes, procedures, and metrics will the Vendor employ to monitor performance and availability for all systems.
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