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Vendors are a critical not only to project success but also for the ongoing sustainability of operations and continuous improvement initiatives.
Unfortunately there is no one size fits all solution and they type of vendor required depends on a variety of factors. It is important to mention that distinction should be made between the product and the vendor. It should also be acknowledged that while product sophistication is generally a good criteria, it is the quality of support provided by the vendor that often determines the project success.
What are the criteria that should be considered while selecting a vendor and product?
Gate openers:
- Product meets the functional and non-functional requirements.
- Sustainability and continuity of support.
Other subjective criteria:
- Costs – licensing, ongoing support and maintenance
- Whether both perpetual and periodic licensing options are available
- Hosting options
- Skills availability
- Total cost of ownership
- Feedback from reference clients
- Product roadmap
- Implementation risk
- Probability of success/ project success factors
- Operating model and operations
Figures 1 and 2 show examples of evidence and data based analysis for comparing the various product and vendor options for one of our recent clients:
Figure 1 – Vendor Analysis, Strategic Groups
Figure 2 – Critical Success Factors, Value Curve Analysis
