Join Bob McGannon for an in-depth discussion in this video Involving vendors and partners in planning, part of Project Management Foundations: Procurement.
- As I have shared, there are lots of potential gotchas…that can bite you as you procure the products…and services for your project.…The good news is you can sometimes mitigate risk…by involving vendors and partners…in project planning activities.…Let's start with the gathering of your requirements.…This is a necessary activity…if you're going to release a RFP.…If documenting requirements is something…your company doesn't do very often,…or you don't do it well, you would be wise to consult…with a vendor to assist with…requirements related activities.…
So, to help you out, you can leverage…vendors in the following ways.…Establish a time-and-materials contract…with business analysts to assist with the development…of the requirements, establish…a time-and-materials contract with…senior business analysts to lead the development…of requirements for your team, or establish a fixed-fee,…or cost-plus type contract with a company to develop…the requirements, with assistance from your project team.…This helps hold the vendor accountable for the creation…
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- Define project procurement.
- Distinguish when to use vendors and partners.
- Compare and contrast building versus buying.
- Identify different types of contracts.
- List types of payment approaches.
- Test your market.
- Build and use a request for information (RFI).