A key activity in project management is vendor management, and most project management literature provides the client’s perspective about vendor selection and management. This often overlooks the vendor’s point of view in the process. From responding to a client’s request for proposal (RFP), doing research and arriving at a value proposition, pricing it, presenting the proposal to senior management, and all the way to winning the client is no less than a million-dollar challenging project. And the journey doesn’t end when the deal is won. If the client-vendor relationship didn’t previously exist, it also calls for the drafting and execution of a master service agreement (MSA) to tie the knot of partnership, followed by the acceptance of a statement of work.
I recently had the opportunity to play a consulting role in such a capacity. My employer, acting as an IT service provider, wanted to pitch in for providing IT modernization services to a Toronto-based financial services company. The client was into mortgage lending, running their business on outdated IT infrastructure managed by limited in-house IT staff. The CIO of the company noticed the gap, and wanted to revamp IT operations and streamline development and support processes. In responding to the RFP, we visited their premises; got introduced to their people and processes;
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