Evaluating and selecting the right solution, product, tool, software, service or vendor can be a formidable task. Companies and projects can make selection decisions that do not meet stakeholder expectations resulting in project failure or negative impacts to the business.
For over 20 years, Project Consulting Group (PCG) has been a trusted partner in helping organizations make informed and cost-effective vendor/tool selection decisions. PCG has been involved in hundreds of these initiatives; bringing a wealth of information and intellectual property to the table.
During the vendor/tool selection process, we emphasize people and process requirements in addition to identification and assessment of technology needs. This holistic approach considers organizational impacts as well as technical capabilities to assure your investment is successful.
Vendor / Tool Selection Hazards
While vendor / tool selection may seem simple, in reality, these are complex processes that can significantly impact your organization. There are countless stories where projects needed to abandon a selection decision (pre/post deployment), which can be a costly mistake. The root cause of these mistakes typically falls into one or more of the following categories:
- lack of market maturity (solution, product, tool, software, service)
- inadequate subject matter expertise on team
- ambiguous scope or poorly written requirements
- rushed or unrealistic timelines
- organizational or personal ulterior motives (politics)
- lack of cross organizational stakeholder involvement/alignment
- deficient decision-making criteria and scoring
In addition to the above items, companies need to consider differentiating criteria, total cost of ownership (TCO), return on investment (ROI) projections, and alignment to the overall portfolio investment strategy.
How Can PCG Help?
Experienced PCG consultants will work with your stakeholders during the vendor/tool selection process to choose a solution that will help drive success. Below are services PCG provides, although we can tailor services based on specific client needs.
- Scoping and Requirements: PCG will review the goals/objectives of your initiative and document the project charter, scope and requirements.
- Vendor and Response Preparation: PCG will create a request for proposal; translating your requirements to the vendors. Evaluation and scoring/decision criteria are created at this time.
- Vendor Identification, Coordination, and Facilitation: PCG will take an unbiased and balanced approach to identify vendors and facilitate responses, demos, site visits, and reference checks.
- Vendor Selection: PCG will work with you to review, evaluate and score responses. This can include development of contracts, statements of work, performance metrics, and final budget.
- Other: PCG can work with your company to implement a standardized vendor selection methodology across the organization.