Overview

Many risks exist with work that is outsourced. In fact, the risks may be greater because you do not have control over the resources like you would for a project that you are managing internally. To help reduce these risks, you should establish monitoring and control processes and procedures. They should cover the work being delivered by the vendor per the contract and tracking of the progress against the overall schedule.

• Discuss contract negotiations, especially the terms and conditions, including price, work scope, and so on.
• Explain how a preferred provider list would help or hinder contract negotiations for your project.
• What tools and techniques will you use to manage your relationship with the seller or vendor?

Please use two sources for reference.

An example of a project is a three-level modular home with a detached two-car garage.