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Why do PM's use Vendor Bid Analysis in Cost Management?

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George Lewis Program/Project Manager| DXC Technology Company Heredia, Costa Rica
Why do PM's would Vendor Bid Analysis in Cost Management?
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George Lewis Program/Project Manager| DXC Technology Company Heredia, Costa Rica
Why do PM's would Vendor Bid Analysis in Cost Management?
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George Lewis Program/Project Manager| DXC Technology Company Heredia, Costa Rica
Vendor Bid Analysis
Cost estimating methods may include analysis of what the project should cost, based on the responsive bids from qualified vendors.

When projects are awarded to a vendor under competitive processes, additional cost estimating work may be required of the project team to examine the price of individual deliverables and to derive a cost that supports the final total project cost.
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Stéphane Parent Self Employed / Semi-retired| Leader Maker Prince Edward Island, Canada
I suspect because you have received more than one bid?

We may not call it vendor bid analysis but when we evaluate all the bids received, we have to analyze the bids to see which one is the best..

Sometimes we select the least expensive solution but, more often, we select the best value solution - best bang for your buck.
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1 reply by George Lewis
Sep 04, 2017 9:50 AM
George Lewis
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Stephane thanks for your reply!!! Got it...
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George Lewis Program/Project Manager| DXC Technology Company Heredia, Costa Rica
Sep 03, 2017 7:47 PM
Replying to Stéphane Parent
...
I suspect because you have received more than one bid?

We may not call it vendor bid analysis but when we evaluate all the bids received, we have to analyze the bids to see which one is the best..

Sometimes we select the least expensive solution but, more often, we select the best value solution - best bang for your buck.
Stephane thanks for your reply!!! Got it...

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