| Know the Lingo?
Do you speak project management? See if you can define the following term and then check below to see if you are correct.
- VMO
|
| Words of Wisdom |
|
|
|
"If you don't know where you are going, any road will take you there."
|
Related Industry Info
|
- Harvard Business Review
|
Answer:
Know the Lingo
The VMO (Vendor Management Office) is an overarching organizational concept of strategically managing procurements and vendors to maximize business investments in key commodities - while at the same time minimizing business risk. A 2007 report by Forrester indicated that 47% of North American companies surveyed had a VMO. Of those companies, 92% stated that the VMO is somewhat or very effective. Learn more.
|
|
About PM focus
PM focus is a free, quarterly publication of Project Managers, Inc.
For more information about the firm, please visit our website:
www.ProjectMgrs.com.
| |
|
|
Vendors May Cost You More Than Your Project
Note: Karen McIsaac, the Founder and Managing Director of Project Managers, Inc., will present the following white paper, "Vendors May Cost You More Than Your Project: How to Avoid Vendor Risks," to the Project Management Institute Global Congress 2008 - North America in Denver, Colorado on October 21. Click on the link below to download the PDF.
Let's face it, we are all dependent on vendors whether in our workplace or personal lives because we simply cannot do it all on our own. What we can do is ensure that we are managing those vendors in order to have our needs and expectations fulfilled.
 Download white paper |
Following 10th Anniversary, ProjectMgrs Launches Revamped Website
Now in its 10th year of managing major change initiatives for the Fortune 1000, not-for profits and government agencies, Project Managers, Inc. recently launched a revamped version of its website, www.ProjectMgrs.com. 
The site features an Impact Assessment Tool intended to help potential clients understand the components of their business transformation efforts, including the problem being addressed, scope, risks, timing, resource needs, strategic alignment, organizational readiness for change, internal controls and dependencies.
The site also features the firm's approach to driving change, client success stories and a more comprehensive media archive that includes downloadable white papers, articles and newsletters written and distributed by the firm.
"We believe this website more clearly communicates why our clients call on us time and time again" said Karen McIsaac, Founder and Managing Director. "It also demonstrates how we manage significant change from the business perspective through strategic initiative planning, execution and controls."
Visit the site and then send an email to tell us what you think! |
|
Fact or Fiction?
There are four typical reasons for termination of a vendor contract which may be executed at any time within an agreement.
FACT! The four reasons include: Failure to perform against the SOW (this is a vendor failure), breach of contract (the contractual agreement is not executed by the vendor or the buyer), anticipatory breach of contract (the vendor does not intend to complete the work) and termination by the buyer (generally executed within the Terms and Conditions clause of the contract).
|
|
|
|
|
