Join Bob McGannon for an in-depth discussion in this video Using vendors vs. partners, part of Managing Project Procurement.
- View Offline
- Like most everyone I know, I have a set of acquaintances…and a small group of really good trusted friends.…I don't mind hanging out with my acquaintances…when it suits me, but I don't treat them…at all like my trusted friends.…These are people that would do anything for me.…And I would do the same for them.…Vendors and partners are a bit…like acquaintances and friends.…Your acquaintance vendor can be described as a party…that makes goods and services available to you.…You work with them via a straightforward…contract or a purchase order.…
Basically, you work with them on a…transaction-by-transaction basis.…I suggest you leverage vendors when there are…several vendors who provide the same product or service.…Prices are comparable.…And you know exactly what equipment or service is needed.…I will also use vendors for resource augmentation…when I know the exact skill I need, and the resource can be…effectively managed within the project.…The benefit to a vendor arrangement is…that you'll spend less time nurturing the relationship.…
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- What is project procurement?
- Should you buy or build?
- Putting procurement tasks in your schedule
- Understanding contract types
- Ensuring flexibility with the statement of work
- Exploring payment scheduling options
- Testing your market
- Using RFIs, RFQs, and RFPs
- Overcoming challenges