Vendors Inventory and Attributes - Skills and Competencies attributes for the Vendors Inventory

Vendors Inventory and Attributes

Chapter 25. Skills and Competencies attributes for the Vendors Inventory

Authored and Published By: The International Foundation for Information Technology (IF4IT), LLC

Executive Summary: Chapter Overview

IF4IT

The Bottom Line

Skills and Competencies attributes capture the enterprise capabilities needed to manage, govern, or replace Vendor relationships effectively. Even where no standard attributes are defined, this category helps organizations identify internal skill dependencies, vendor-management competencies, and knowledge required to operate with or transition away from a vendor.

Core Concepts

ConceptDefinition & Strategic Role
Vendor Management SkillsThe enterprise skills required to govern, negotiate, monitor, and manage vendor relationships effectively.
Replacement CompetencyThe knowledge and capability required to transition work away from a vendor if the relationship ends.

Quick Q&A

Question: How do skills and competencies relate to vendor risk?

Answer: A vendor can become harder to manage or replace when the enterprise lacks internal knowledge of the service, technology, or commercial model. Capturing skill and competency attributes helps expose dependency created by missing internal capability.

Read More Below

Skills and Competencies attributes capture the skills and competencies required within the enterprise to effectively manage and govern this vendor relationship.

The IF4IT has not yet identified standard attributes in this category for the Vendors Inventory. This does not mean no such attributes exist — organizations building this inventory are encouraged to identify and define attributes in this category that are relevant to their specific context and governance needs.

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