🧭 Course Overview:

Effective vendor management is crucial to ensuring successful project outcomes, cost savings, and strong supplier relationships.
This interactive one-day training program focuses on the best practices, tools, and techniques required to manage vendor relationships efficiently — from vendor selection and contract negotiation to performance evaluation and contract closeout.
Participants will gain practical insights into vendor governance, communication planning, risk management, and dispute resolution to drive better results and long-term value from vendors and suppliers.
Whether you manage IT projects, procurement contracts, or outsourced services, this course equips you with the skills to build and maintain successful vendor partnerships.

🌟 You Will Learn:

✅ Importance and key components of an effective vendor management strategy
✅ How to create and implement a vendor management plan
✅ Contract negotiation techniques and documentation best practices
✅ Communication planning for seamless vendor coordination
✅ Managing vendors throughout the project life cycle
✅ Identifying and resolving vendor-related issues
✅ Vendor contract closeout and performance evaluation
✅ Compliance, risk mitigation, and vendor governance

👥 Who Should Attend:

Project Managers
IT Project Managers
Procurement Professionals
Project Coordinators
Project Analysts
Project Leaders
Product and Program Managers
Project Sponsors
Team Leaders
Anyone involved in supplier, contract, or vendor relationship management
Professionals seeking to earn PDUs or renew their PMP® certification

🧩 Course Modules & Detailed Agenda (9:00 AM – 5:00 PM):

🕘 9:00 AM – 9:30 AM
Module 1: Introduction to Vendor Management

Understanding vendor relationships and their impact on project success
Vendor management principles and lifecycle overview
Identifying key stakeholders in vendor management

🕤 9:30 AM – 10:30 AM
Module 2: Establishing the Vendor Relationship

Vendor selection process and criteria
Defining roles, responsibilities, and expectations
Understanding procurement and sourcing strategies

🕙 10:30 AM – 10:45 AM
☕ Morning Break

🕥 10:45 AM – 12:00 PM
Module 3: Vendor Management Planning

Creating a vendor management plan
Setting up measurable objectives and KPIs
Risk assessment and mitigation planning
Developing vendor scorecards

🕛 12:00 PM – 1:00 PM
🍴 Lunch Break

🕐 1:00 PM – 2:30 PM
Module 4: Vendor Communication and Collaboration

Designing an effective vendor communication plan
Managing performance through feedback loops
Handling disputes and resolving vendor issues
Building trust and transparency with vendors

🕝 2:30 PM – 2:45 PM
☕ Afternoon Break

🕞 2:45 PM – 4:00 PM
Module 5: Vendor Contract Management

Contract negotiation essentials
Contract administration and monitoring
Change management in vendor contracts
Legal and compliance considerations

🕓 4:00 PM – 4:45 PM
Module 6: Vendor Evaluation and Closeout

Evaluating vendor performance
Conducting post-project vendor reviews
Lessons learned and continuous improvement
Closing out the vendor contract

🕟 4:45 PM – 5:00 PM
Wrap-Up and Q&A Session

Review of key concepts
Practical tips and final discussion
Certificates and feedback

💡 Key Takeaways:

Develop a professional vendor management framework
Enhance your contract negotiation and vendor communication skills
Minimize project risks with strong vendor oversight
Improve vendor performance and accountability
Learn real-world techniques for effective supplier governance

🏆 Course Benefits:

Certificate of Completion
Earn PDUs toward PMP® Renewal
Practical case studies and templates included
Instructor-led, interactive workshop
Real-world examples from multiple industries

Effective Vendor Management 1-Day Workshop|Fishers, IN