Managing The Offshore Relationship

Topics:
Commercial Lending,
Strategic Management Tools
Tags:
Business Services,
CMP Media,
Service Management
Source:
CMP Media

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Overview: Despite a rigorous due-diligence period of pilot programs and vendor reviews, the real work had just begun for the investment bank. A common misconception is that once the service providers are chosen and the contract is complete, the bulk of the work is done. Although correctly choosing a vendor and developing a solid contract is critical, the importance of the institution's role after the first phase is often underemphasized. After choosing providers and setting out goals, the next step is monitoring the project. It includes contract management, developing a plan to cultivate internal-managerial skills that address offshore-management issues and creating a project-management office. The article discusses the steps for effectively managing the offshore relationship.

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Format: HTML | Date: Oct 2003 | Pages: 1

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