Once vendors are hired, procurement and project managers actively track vendor performances and maintain positive vendor relationships. Based on performances, vendors may either be awarded another contract or fired.

• Share experiences or knowledge gained through reading relevant textbook and articles, as well as watching educational videos. Provide substantive responses related to Unit 5 learning objectives. Ensure that responses satisfy length requirements and that they reflect your ideas and point of view rather than materials copied and pasted from various sources.
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• Describe vendor relationship management and vendor performance tracking activities that you would recommend to ensure that all parties satisfy long-term objectives.

Answer rating: 100% (QA)

Vendor relationship management and vendor performance tracking are crucial activities in ensuring successful procurement and project management To satisfy longterm objectives it is important to establ... View the full answer