Need-to-Know Technologies for a Successful Future

Chapter 8 Vendor Negotiations and Management

Rarely can you do everything yourself, even with your own team of experts on staff. Projects are too complex and hiring expert employees is expensive, especially for a project that finishes within a few months. There’s no work for those experts once the project is over—no one is giving up a full-time job elsewhere to work on a short-term project.

The project team is supplemented by contractors who perform tasks not performed by the core team. Contractors—referred to as vendors—enter into agreements (contracts) with the organization to perform specific services within a specific time period for a specific amount of money. The service can be tasks that otherwise would be performed by the organization’s ...