Depending on the type of project being managed, it is possible that outside suppliers, vendors or partners will be involved. It is critical your selections are excellent decisions, as they will have a significant impact on the potential success of your project.

Figuring out how to choose the right vendors, suppliers and partners is often the mark of an excellent project manager. Of course the right ones help considerably in the creation of the very best of results, and deal with the nasty problems and difficulties that sometimes occur once the project is underway. In the absence of experience in this area, there are fortunately a series of results that follow that will reduce the potential for making poor choices.

One aspect of finding any partner or supplier is the synergy and empathy felt during the selection process. It is necessary to deal with this issue up front, as obviously it is a greater delight to deal with those that we like and feel we will enjoy working together. However, making decisions on this basis can also cause problems. If other factors such as price, delivery timeframe and quality are not so important, you might find yourself doing business with someone you like but with less than perfect results.

Bottom line is no one wants to do business with someone who is a pain to deal with; however, they also have to produce desired results. If not, the project will not meet its goals; delivered successfully–on time and on budget.

Factors affecting the development of partnership relationships

1. Measuring the cost associated with the development of the relationship
2. Determining the margin and cost of goods from the partnerships
3. Re-engineering costs associated with the partner relationships
4. Additional costs for marketing, sales, training, management and maintenance of the relationship
5. If a distribution partnership project, then agreement on metrics and goals for the sale of goods, and supporting costs

Excerpted from Michael J. Cunningham’s Finish What You Start

Tags: desired results, distribution partnership, marketing sales, partner relationships, partnership project, partnerships, price delivery, selection process, significant impact, synergy, timeframe, training management