Examining Vendor Bid Analysis for Projects

vendor bid analysis

Examining Vendor Bid Analysis for Projects

 

Vendor Bid Analysis is a cost estimation technique that is based on the bids obtained from vendors. The proposed costing from the vendors is considered while developing estimates for the project.

Examining Vendor Bid Analysis for Projects

Generally, a part of the project is outsourced to a vendor , so the cost costing for that outsourced part of the project can be sought from the vendors through their proposals , bids or quotation.

 

Typical example…

Consider a company that had taken the design and launch of the new solar car model program. This can be further divided into several small projects for creating major components such as engine , chassis , driving system, solar panels , eterior and interior.

 

These projects have a bigger objective and are interrelated to each other. The company decides to outsource the project that deals with the making of solar panel and allotted $100,000 for the project . The project manager sends an invitation to vendors to obtain the best bid for the project.

 

The costing suggested by the vendor helped the Project Manager to refine the cost estimates . Later the company decided to select a bid that includes all the project deliverable and support the final total project cost.

 

 

Now your take on this argument.

We would also like to hear what you feel about the topic we discussed today. Your feedback is very important to us. Feel free to drop your comments and recommendations. If you have a contrary opinion, you can drop that too.

You can also join our Facebook Page CRMNigeria for more updates. You can do that by clicking on the link or searching for our page on Facebook.

 

 

You can also join our WhatsApp Group Here.
Kindly Subscribe to CRMNIGERIA Articles by Email

Adeniyi Salau Scrum Master Certified , CCNA R&S , BeingCert and Scrum Certified Digital Marketing Professional, CEP, MOS, MCP, CSCU (Project 2016), Microsoft Certified Security and Networking Associate is a Google and Beingcert Certified Digital Marketer, Project Manager and SEO Expert of repute with about a decade of Blogging and online marketing experience. He is always ready to share his experience with others.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

CommentLuv badge
%d bloggers like this: