Vendor bid analysis
 | The topic of this article may not meet Wikipedia's general notability guideline. (April 2017) |
Vendor Bid Analysis (Vendor analysis) is a technique used to figure out the cost of a project by comparing the bids submitted by many suppliers. This can be accomplished by considering the costs (via quotes, bids, proposals, etc.) presented for project work. By using a selection criteria divided into categories, vendor proposals have to meet these criteria or may be eliminated.[1][2][3]
Evaluating Bids
[edit]While analyzing the bids of a product or service, the buying side may consider the following:
- Records from previous deals
- Meeting with quality needs
- Seller capacity and resources
- Meeting deadlines in records
- Financial capability
See also
[edit]References
[edit]- ^ "Project Cost Estimating Tools and Techniques".
- ^ "Managing Bids & Negotiating Prices : Procurement".
- ^ Rolstadaas, Asbjoern (1 January 2008). Applied Project Management. Tapir Academic Press. ISBN 9788251922876 – via Google Books.