4. Performance Management

The more developed vendor management programs include performance metrics as a core discipline, Weinstein said, alluding in his presentation to Gartner’s “five levels of vendor management maturity.”
Performance management also includes oversight of services and operations so that providers are meeting the terms of their contracts, along with how their work integrates with that of other vendors and solution providers, Weinstein said.

Finally, managing performance should lead to “continuous improvement” of a relationship, Weinstein said.