Twelve Key Project Management Skills for Better Vendor Management

To better help you prepare for responsibilities of vendor and procurement management, let's review the type of skills and knowledge a project manager should possess to be effective in these areas. The key project management skills needed for procurement and vendor management include the following:

1. Managing expectations
2. Effective verbal and written communications
3. Managing virtual and cross-cultural teams
4. Defining a project
5. Proficient negotiating
6. Vendor selection and evaluation
7. Strong interpersonal skills
8. The ability to identify risks and develop appropriate responses (managing risks)
9. Contract knowledge
10. The ability to manage to a contract
11. Understanding when and how to use legal assistance
12. Managing changes