Gartner Research

Adapt IT Vendor Risk Management and Sourcing Processes for Fast-Track Initiatives

Published: 26 October 2016

ID: G00308998

Analyst(s): Edward Weinstein

Summary

As vendor engagements increase in complexity, risk management has become a core element of an IT vendor management practice. Sourcing and vendor management leaders must streamline these practices for engaging external parties when speed of delivery is a critical success factor.

Table Of Contents
  • Key Challenges

Introduction

Analysis

  • Develop Processes to Quickly Identify Risks in Fast-Track IT Initiatives, and Determine What Risks Are Acceptable When Timelines Are Accelerated
  • Prioritize and Assign Ownership of Identified Risks, and Establish Appropriate Authority for Fast Management of Risks
    • Prioritization of Risks
    • Ownership of Risks
    • Authority Over Risks
  • Refine Vendor Risk Management Policies and Practices to Reduce the Risk of Being Bypassed
    • Vendor Vetting
    • Streamlined Monitoring
    • Contingency and Exit Strategy

Case Study

  • North American Insurer Revises SaaS Integrator Vetting
  • Health Company Quickly Develops a Customer Portal

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