Find Resources & Connect with members on topics that interest you.

AI - Acquire and Implement

PO - Plan and Organize

DS - Deliver and Support

Please sign in to see your topics.

You must be logged in to join this group.

AI5.2 - Supplier Contract Management

This topic is intended to enable collaboration and sharing of information to facilitate a better understanding and approach to implementing this COBIT control objective based on the risk, value and guidance provided by its corresponding control practices.

COBIT Control Objective AI5.2 - Supplier Contract Management is contained within Process Popup Procure IT Resources.

Learn more about COBIT and related publications.

Click “Join This Community” to be able to actively participate in discussions and contribute content. You must be an ISACA member to join this topic. Join ISACA now.

 
This Topic Has:
3 Members
0 Online
2632 Visits

 Recent Discussions

Community Leader

Knowledge Center Manager

Knowledge Center Manager

Title: Become a Topic Leader!


Supplier Contract Management

Set up a procedure for establishing, modifying and terminating contracts for all suppliers. The procedure should cover, at a minimum, legal, financial, organisational, documentary, performance, security, intellectual property, and termination responsibilities and liabilities (including penalty clauses). All contracts and contract changes should be reviewed by legal advisors.

View value and Risk Drivers  help

Hide value and Risk Drivers help


Value Drivers

  • Defined supplier relationship objectives and goals
  • Efficiently managed procurement of resources
  • High-quality contribution to business and IT processes
  Risk Drivers
  • Lack of cost management
  • Gaps between business expectations and supplier capabilities
  • Undefined service costs incurred
  • Services failing to reflect business requirements
  • Lack of operational support

View Control Practices  help

Hide Control Practices  help

  1. Establish supplier contract management policies and procedures in accordance with legal terms and conditions. The policies and procedures should address specific concerns such as:
    • Supplier responsibilities
    • Client responsibilities
    • Supplier SLAs
    • Monitoring and reporting against SLAs
    • Transition arrangements
    • Notification and escalation procedures
    • Security standards, records management and control requirements
    • Required supplier QA practices
    • Right to audit
    • Penalties or incentives relating to agreed-upon service levels
    • Intellectual property rights
    • Provision for independent assurance
    • Technology upgrade clauses
    All contracts and contract changes should be reviewed by legal advisors.
  2. Define and implement a policy and related procedures to establish, change and terminate supplier contracts. Consult the appropriate stakeholders, including legal, purchasing, audit, business and IT representatives.
  3. Perform review of supplier internal controls by management or independent third parties based on contracts with key service suppliers.
  4. Obtain and review contracts for clauses relating to third-party reviews and obtain reports from such reviews.
  5. When defining the contract remedies, consider software escrow agreements and alternative suppliers or standby agreements in the event of supplier failure.
  6. Enquire whether remedies were considered when defining the contract.

Discussions: 0 total

Must be a Topic member to contribute

No Results Found

Documents & Publications: 42 total

Events & Online Learning: 1 total

14 Oct 2013
ISACA International Event
Boston, MA, USA

Journal Articles: 122 total

Volume 2, 2013
by Rajesh Bhatia, CISA, CGEIT, PMP, MDP
This article discusses the benefits of using the framework of the five IT governance focus areas.
Volume 4, 2012
by Danny M. Goldberg, CISA, CGEIT, CCSA, CIA, CPA
Internal audit (IA) departments should not lose sight of the importance of the ARA and its tangible and intangible benefits to the company and the department.
Volume 3, 2012
by Aarni Heiskanen, LJK
A program or project portfolio explains how an organization is implementing its strategy with projects.
Volume 1, 2012
by Prakhar Srivastava and Tarun Verma
Log management can play a pivotal role in addressing PCI DSS requirements, be a success factor and enabler for safeguarding cardholder transaction data, and provide a secure and vulnerability-free environment for cardholders.
Volume 6, 2011
by Harmeet Kaur, CEH
As today’s business climate demands greater efficiency, security and regulatory compliance, the need for an effective IAM process has never been more pressing.
Volume 5, 2011
by Derek Mohammed, Ph.D., CISA, CISSP, PMP
Organizations need fully articulated security policies and procedures based on industry best practices to solidify their information system defenses and meet legal, contractual and regulatory requirements.

Wikis: 2 total

Blog Posts: 8 total

DISCLAIMER :- Below information is just for knowledge sharing purpose and reference. Personally or on behalf of any organization; I do not recommend any specific / particular tool listed below. These are the ones which I have come across. there may be t...
Posted By : prathameshkarekar | 0 comments
www.itpp.info
Posted By : Alexei.Shindin | 0 comments
In our current challenging financial times, businesses globally are trying to get by doing more with less.  In the past few years since the onslaught of the recession in 2007, companies have slashed positions that were thought to not be essential to survi...
Posted By : Robert992 | 1 comments
On March 1st,  I was invited to speak at the CampIT conference on Enterprise Risk/Security Management at Rosemont Convention Center. Before me there were two speakers. The first presenter spent an hour presenting the story from the trenches of technolog...
Posted By : Umesh391 | 1 comments
17 Aug 2011
Posted By : masarker | 0 comments
These are five possible ways to discover Unstructured Processes. Regulatory and Compliance processes - People-intensive processes that are kicked off as a result of an external regulatory body and these processes tend to be ad-hoc & on-going change, but...
Posted By : Varun | 1 comments