Vendor bid analysis

{{notability|date=April 2017}}

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.{{cite web|url=http://www.project-management-skills.com/project-cost-estimating.html|title=Project Cost Estimating Tools and Techniques|publisher=}}{{cite web|url=https://www.whoi.edu/procurement/managing-bids-negotiating-prices|title=Managing Bids & Negotiating Prices : Procurement|publisher=}}{{cite book|url=https://books.google.com/books?id=xm4WAj3kIooC|title=Applied Project Management|first=Asbjoern|last=Rolstadaas|date=1 January 2008|publisher=Tapir Academic Press|isbn=9788251922876|via=Google Books}}

== 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