Summary
Establish and maintain supplier agreements.
Description
A supplier agreement is any written agreement between the organization (representing the project) and the supplier. This agreement can be a contract, license, service level agreement, or memorandum of agreement. The content of the supplier agreement should specify the arrangement for selecting supplier processes and work products to be monitored, analyzed, and evaluated, if the arrangement is appropriate to the acquisition or product being acquired. The supplier agreement should also specify the reviews, monitoring, evaluations, and acceptance testing to be performed.
Supplier processes that are critical to the success of the project (e.g., due to complexity, due to importance) should be monitored.
Supplier agreements between independent legal entities are typically reviewed by legal or contract advisors prior to approval.