Governance of Outsourcing

Governance of outsourcing is the set of responsibilities, roles, objectives, interfaces and controls required to anticipate change and manage the introduction, maintenance, performance, costs and control of third-party provided services. It is an active process that the client and service provider must adopt to provide a common, consistent and effective approach that identifies the necessary information, relationships, controls and exchanges among many stakeholders across both parties.

Best Practices for Governance of Outsourcing
For the organisation to adopt best practice, the outsourcing life cycle must be understood operationally and strategically as this supports control across each of the life cycle stages.
Armed with this widely accepted life cycle model, the organisation will be better able to manage, govern and allocate resources effectively across the following areas.
1) Asset Management
2) Contract Management
3) Relationship Management
4) SLAs and OLAs
5) Due Diligence
6) Baselining and Benchmarking
7) Governance Processes