A summary of responses received for this Peer2Peer inquiry is available below.
Original Inquiry
Our Company currently utilizes an outlined percentage of total project fees when approving the project associated vendor expenses estimated for the project meaning our Statement of Work template going out the door for new services outlines X% for the approved expenses line pre-work beginning.
We are looking to benchmark:
- how other companies indicate the amount of expenses they are willing to pay per project and what those amounts are, whether by straight dollar amount per project or certain percentage of the project fees.
We are also looking to understand
- if you negotiate project expenses with your external vendors by project, if so – how do you determine what the appropriate amount to negotiate on is.
-
How does your company determine whether their external supplier companies’ project expense amounts are higher than average or lower than average dependent on the scope and size of work engagement?
- How does your company determine the threshold for external vendor expenses when completing professional services engagements?
- Do you utilize a particular dollar amount allowance or a project fees percentage allowance?
- Does your dollar amount or allowance vary by location of services being completed?
- Do you as a sourcing audit vendor expenses and tie them back to the originally estimated project expenses or do you rely on your business owners to ensure the vendor is submitting appropriate expenses?
Summary of Responses
Contributors: SIG
Categories: Tool
SRC Type: Talent Management