Vendor bid analysis explained

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

See also

• Construction bidding
• Design–bid–build
• Cost estimate

External links

• Vendor Analysis – Picking The Best Vendor

Notes and References

1. Web site: Project Cost Estimating Tools and Techniques.
2. Web site: Managing Bids & Negotiating Prices : Procurement.
3. Book: Rolstadaas, Asbjoern. Applied Project Management. 1 January 2008. Tapir Academic Press. 9788251922876. Google Books.