> For the complete documentation index, see [llms.txt](https://wiki.songer.pro/interviewing/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://wiki.songer.pro/interviewing/security-domains-and-technical-aptitude/third-party-management/vendor-risk/questions/how-do-you-monitor-and-assess-a-vendors-performance.md).

# How do you monitor and assess a vendor's performance?

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<summary>Establish measurable performance metrics</summary>

Take the time to establish performance metrics for your vendor that are specific, measurable, achievable, realistic and time-based (SMART). Consider factors such as quality, cost, customer service, reliability and delivery times.

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<summary>Track performance over time</summary>

Monitor vendor performance over time, and use statistical process control (SPC) to identify trends and outliers.

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<summary>Conduct periodic surveys</summary>

Regularly survey your customers, vendors and other stakeholders to assess their satisfaction with the vendor's performance.

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<summary>Analyze performance reports</summary>

Analyze performance reports provided by the vendor to identify areas of improvement.

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<summary>Facilitate open dialogue</summary>

Regularly meet with the vendor to review performance reports and hold discussions on how to improve.

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