Vendor Management

An inevitable challenge of a large program is effectively managing third parties and ensuring their efforts align with your objectives. Factum’s competency in vendor management ensures your organization is properly equipped to handle this intricate people component.

Assessment

The first step in ensuring vendors deliver what you need is assessing your needs.

We have a wealth of experience in performing needs assessments to build a solid foundation for accurately selecting vendors. Even the best of vendors may not be the right choice for your program given the specific elements you need addressed.


Review & Selection

Selecting the right vendor is a challenge in itself. Part of that challenge is eased if you’ve taken the appropriate steps in determining what elements are important for the vendor to possess.

Whether it’s specific knowledge, experience using certain systems, or just the confidence that they will be able to handle a certain segment of work, we’ll be with you throughout the selection process, advising you on what questions to ask and which vendor is the ideal fit for your needs.

We’ll also help you negotiate and develop the contract that holds the vendor accountable for performing in alignment with your program objectives.


Execution

Once the vendor has been selected and installed within your program, there’s still the need to manage their efforts. Without proper control of contracted efforts, especially when they make up a significant portion of the work, risk of program failure increases dramatically.

This is where our wealth of experience in vendor management comes into play. We know the importance of your program and continually oversee and guide vendor performance toward a successful delivery.