Current segment
Segment 8.3 Measuring the Performance of Contracts
Segment 8.3 Measuring the Performance of Contracts
| Knowledge: Will know and understand | Capabilities: Will be able to |
|---|---|
The main types of risks in the performance of contracts, such as internal, market, economic, legal and ethical sourcing and performance-based risks |
Formulate SMART targets for supplier performance and agree their application with suppliers and other stakeholders |
The importance of defining contractual performance measures of key performance indicators (KPIs) to assess quality, performance, cost management, resources and delivery |
Define and agree processes to monitor contractual KPIs to assess quality performance, cost management, resources and delivery with suppliers and stakeholders |
The importance of analysing outcomes of negotiation activities completed with the suppliers of goods and services |
Compare planned outcomes for negotiations with suppliers with actual outcomes and evaluate the reasons for any differences |
How to assess contractual risks |
Liaise with suppliers and other stakeholders to assess risk, complete risk registers and agree actions to mitigate risks |
The use of data that relate to the performance and under performance of contracts |
Collate and evaluate data on the performance of contracts and take actions to remedy or prevent underperformance |
The use of audits to verify performance and costs |
Conduct audits with suppliers to verify performance and costs, and take actions to remedy any queries from the information and data gained |
The main types of risks in the performance of contracts, such as internal, market, economic, legal and ethical sourcing and performance-based risks
Formulate SMART targets for supplier performance and agree their application with suppliers and other stakeholders
The importance of defining contractual performance measures of key performance indicators (KPIs) to assess quality, performance, cost management, resources and delivery
Define and agree processes to monitor contractual KPIs to assess quality performance, cost management, resources and delivery with suppliers and stakeholders
The importance of analysing outcomes of negotiation activities completed with the suppliers of goods and services
Compare planned outcomes for negotiations with suppliers with actual outcomes and evaluate the reasons for any differences
How to assess contractual risks
Liaise with suppliers and other stakeholders to assess risk, complete risk registers and agree actions to mitigate risks
The use of data that relate to the performance and under performance of contracts
Collate and evaluate data on the performance of contracts and take actions to remedy or prevent underperformance
The use of audits to verify performance and costs
Conduct audits with suppliers to verify performance and costs, and take actions to remedy any queries from the information and data gained
This segment was last updated on: 6th November 2024
