Business Analyst: What is vendor management for BAs?

Vendor management — selecting and managing suppliers.

Process:

1. Needs assessment.
2. Vendor identification.
3. RFP/RFI process.
4. Evaluation.
5. Contract negotiation.
6. Performance monitoring.

RFP components:

• Project overview.
• Requirements.
• Evaluation criteria.
• Timeline.
• Budget range.

Example:

BA role:

• Requirements definition.
• Evaluation support.
• Contract review.