Vendor bid analysis

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

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
gollark: You can use espeak like me, then.
gollark: It would hypothetically be fairly safe to only talk about it in meta-level hypotheticals.
gollark: If it was hypothetically secret, then hypothetically, telling you information about it could hypothetically permit cryptanalysis.
gollark: Do you know how "secrecy" works, in general?
gollark: Anyway, hypothetically, if I was reading out secret data, it would be very stupid to just tell people what it was.

See also

References
  1. "Project Cost Estimating Tools and Techniques".
  2. "Managing Bids & Negotiating Prices : Procurement".
  3. Rolstadaas, Asbjoern (1 January 2008). "Applied Project Management". Tapir Academic Press – via Google Books.
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