Evaluating Vendor's Proposals for a Project

At times, a project manager must evaluate proposals from identified vendors and make decisions based on the project budget and schedule. It is essential to determine how the organization will determine the best response to the proposal's individual vendors?

IRTC has asked you to evaluate the customer service add-on the vendor offered while still in negotiations for this project. The add-on will cost $25,000 and take an additional 4 weeks to install. Your manager has asked for your opinion. The project is tracking along according to schedule and budget.

What do you need to consider before saying yes or no? Prepare a memo for your manager outlining how either decision would affect the project and factors that need to be discussed and agreed to by various parties involved in the project.

- What do you need to consider before accepting or denying the vendor proposal?
- How would your decision affect the overall project?
- Consider budget, schedule, and resources.
- What parties would need to be involved in this decision-making process?
- What important factors would need to be discussed and agreed upon by the various parties involved in the project?

You can do this by performing the following steps:

- Prepare a project plan that covers all project groups and knowledge areas.

- Develop project plans that integrate project procurement and contracting activities across project groups.

- Separate tasks into sub-tasks, and a work package with stated durations and order of precedence.

Manage project scope throughout the project life cycle.