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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.

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

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. ISBN 9788251922876 – via Google Books.

External links

• Vendor Analysis – Picking The Best Vendor

• Project management techniques