Vendor Contract Tracking and Prioritization Template

Vendor Contract Tracking and Prioritization in Priority Matrix

Track and prioritize vendor contracts to secure the best deals and meet deadlines.

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Proposed Tasks

Urgent and Important

• Task 1 - Establish Vendor List
  ☐ Identify all existing vendors ☐ Create a master list of vendors
• Task 11 - Contract Renewal Reminders
  ☐ Set reminders for contract renewal negotiations ☐ Ensure no contract renewals are missed
• Task 13 - Vendor Payment Tracking
  ☐ Track all vendor payments ☐ Ensure all payments are made on time
• Task 16 - Vendor Risk Assessment
  ☐ Conduct risk assessments for each vendor ☐ Address any identified risks
• Task 17 - Contract Renewal Negotiations
  ☐ Conduct contract renewal negotiations ☐ Ensure the best deal is secured
• Task 19 - Vendor Contract Audit
  ☐ Conduct audit of vendor contracts ☐ Ensure all contracts are in compliance with regulations
• Task 2 - Identify Contract Deadlines
  ☐ Review all contracts ☐ Identify and note contract deadline dates
• Task 8 - Monitor Contract Compliance
  ☐ Monitor vendor compliance with contract terms ☐ Address any compliance issues immediately
• Task 9 - Assess Contract Value
  ☐ Assess the value each contract brings to the organization ☐ Consider value in contract prioritization

Important, Not Urgent

• Task 10 - Update Contract Prioritization
  ☐ Update contract priorities as business needs change ☐ Ensure most important contracts are always prioritized
• Task 15 - Vendor Performance Reports
  ☐ Create vendor performance reports ☐ Share reports with relevant stakeholders
• Task 3 - Prioritize Contracts
  ☐ Use Eisenhower method to prioritize contracts ☐ Assign priority labels to each contract
• Task 4 - Review Contract Terms
  ☐ Review terms of each contract ☐ Identify any potential issues or areas for renegotiation
• Task 7 - Review Vendor Performance
  ☐ Review performance of each vendor ☐ Adjust vendor priority as necessary

Urgent, Not Important

• Task 12 - Vendor Communication
  ☐ Maintain communication with vendors ☐ Address any vendor issues or concerns
• Task 5 - Track Contract Renewal Negotiations
  ☐ Track progress of contract renewal negotiations ☐ Update contract priority list as necessary

Not Urgent and Not Important

• Task 14 - Contract Document Management
  ☐ Manage all contract documents ☐ Ensure all contract documents are easily accessible
• Task 18 - Vendor Satisfaction Survey
  ☐ Conduct vendor satisfaction surveys ☐ Address any identified issues or concerns
• Task 20 - Vendor Contract Database Update
  ☐ Update vendor contract database ☐ Ensure all contract details are up to date
• Task 6 - Update Vendor List
  ☐ Add new vendors to list ☐ Remove vendors no longer used