Vendor Performance
It’s essential to consider all critical criteria when assessing your vendors: subject matter expertise, quality of work, consistency of delivery, compliance with your business rules, and more. The analytics provided by a comprehensive MSP enable you to consistently measure and compare the value each vendor brings to your business in each of these areas before the contract is executed. This not only ensures the contract is awarded to the best vendor, it also enables you to reward your top vendors with more projects – a win/win scenario for your vendors and your business.
Key questions to ask
What process is your organization using to determine SOW vendor selection? Can you remove “impressions” and accurately compare outsourced service vendor performance?
Measuring Milestones
The status of one project often has a cascading impact on other projects and deadlines. Companies that manage concurrent projects should expect access to real-time data on project status in order to maximize efficiency and productivity. Establishing measurable milestones in each of your SOW contracts and monitoring these milestones enables stakeholders across the company to monitor progress.
Key questions to ask
How is your company defining specific, measurable project milestones that allow real-time monitoring of project status?