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Vendor risk in Projects
One of the risks you anticipated for a project was the late delivery of the prototype from the vendor. You adjusted your project schedule to minimize the impact of the risk, built in a penalty for late delivery, and created action plans in case the vendor delivered late. You also identified a risk with the vendor, that they have very little technical depth. If the key engineer is not available to your project, the risk of a delay is even greater.
Describe how you will interact with the vendor in managing these two risks:
How will you monitor the engineer's availability risk?
How will you measure the vendor's progress?
What information will you ask them to share with you? How frequently?
How will you know if the situation is becoming critical? What will you do?
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You check into your e-group today and see that conversation has begun about the differences between general project management and application development or rapid application development (RAD) models.
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