A performance review is the process of monitoring and evaluating performance, i.e. a supplier’s during a contractual agreement. As part of supplier relationship management, buyer and seller meet periodically to review performance and plan for any potential deviations from agreed standards. For example, a provider delivers a service where one of the standards required is 99% uptime. At the scheduled performance review meeting the actual uptime is reviewed and root causes to variations in the standard are investigated. To improve service reliability and meet uptime standards action plans are agreed for implementation moving forward. See also Supplier Relationship Management.
Take the Contract Management Knowledge Evaluation at Skills Gap Analysis.
« Back to Glossary Index
