From the course: Project Management Foundations: Procurement
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Procurement award
From the course: Project Management Foundations: Procurement
Procurement award
To award or not to award? That is the question. Due diligence has been done, proposals have been evaluated, negotiations have concluded. It's come to this very moment. All that's left is for you to make a decision. And you'll come to this decision by evaluating vendor proposals against the other RFP responses you've received, along with predetermined selection criteria. This could include things such as the vendor's relevant experience and qualifications, past performance on similar projects, ability to complete work within project constraints, competitive pricing, and any other selection criteria. Ultimately, you'll select the vendor who best meets your needs. Once you've made your decision, there are additional steps that need to be taken. These include: Notifying unsuccessful vendors; there will be winners and there will be losers. However, if a vendor takes the time to submit a proposal, you owe it to them to at least let them know they didn't win. I mean, you wouldn't want to…
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