Vendor in managing these two risks

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Reference no: EM13806636

One of the risks you anticipated for the 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, answering the questions listed below.

Answer the following questions:
- 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?
- Research any real life examples in which this scenario happened and describe it.

Reference no: EM13806636

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