Vendor Assessment and Rating
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Vendor Assessment and Rating Course
Introduction:
In today's business landscape, a significant portion of an organization's revenues or operating budgets is allocated to contractors and suppliers for the procurement of goods, equipment, and services. Consequently, the evaluation, selection, and effective management of vendors, as well as ensuring compliance with contract provisions, are being increasingly acknowledged as critical processes demanding high levels of competence.
Course Objectives:
Participants attending the program will:
- Benefit from hearing the practices and experiences of others
- Learn your fiduciary duties - making sure you are on the owner’s side
- Discuss best practices of supplier qualification and control
- Review aspects of developing the critical statement of work
- Learn about performance-based service contracts & service level agreements (SLA)
- Explore contract risks and ways to gain protection
- Explore how to use evaluation results or past performance in contractor selection
- Be provided sources of contract checklist
- Be presented with how to win in negotiations that occur in contract management
- Gain knowledge in how to bring about compliance and what do when contracts fail to perform
Who Should Attend?
- Contracts, Procurement, Purchasing, and Project personnel
- Engineering, Operational, Quality, and Maintenance personnel and all others who are involved in interfacing with contractors or suppliers in the acquisition of materials, equipment, parts, and services or anyone who wants to
Course Outlines:
Establishing the Foundation for Successful Outcomes
- Your Fiduciary Duties As A Contract Officer
- Standards Of Professional Ethics In Contracting
- Elements Of A Good Procurement & Competitive Bidding Process
- Supplier Qualification
- Supplier Performance Measurement Methods
- Value Model Of Total Cost Of Ownership
Preparations for Drafting the Contract
- Types Of Statement Of Work,
- Conducting Risk Assessment
- Objectives Of The Contract
- Important Elements Of The Contract
- Basic Contract Types To Distribute Risk
- Performance-Based Service Contracts & Service Level Agreements
- Economic Price Adjustment Contracts
Developing Contract Terms & Conditions
- Determining The Contract Clauses
- Sources Of Contract Check Lists
- Inspection, Acceptance, Rejection
- Liquidated Damages
- Force Majeure/Delays
- Spare Parts
- Warranties
Negotiations in Vendor Management & Contract Compliance
- Basic Negotiation Concepts
- Negotiation Pressure Points
- Negotiating With Untrustworthy Counterpart
- Determining The Issues
- Negotiations Objective Diagram
- Determining Strengths And Weaknesses
- What Is Your Batna (Best Alternative To Negotiated Agreement)
- Important Points In Win/Win Negotiations
The Compliance & Control Phase
- Objectives Of Contract Management
- Key Players In Contract Compliance
- Post-Award Conference
- Contract Monitoring Techniques
- How To Deal With Contract Changes
- When Contractors Fail To Do What Was Promised