Why is it important to carry out vendor bid analysis for any cost estimates received?

Ilya Rezun

18 points

Communications

Procurement

Project Planning

Posted 4 years ago. 5157 views.

2 Answers

ROXY

78 points

This one is the BEST answer!

It is important to carry out vendor bid analysis for any cost estimates received to ensure that the estimate received is with in an expected range, neither too high nor too low.

- 4 years ago.

Dmt Nelson

122 points

It helps to estimate cost based on the value of the Bid submitted by the Vendors. Later, detail cost information is available once after finalizing the seller, and made agreements.

- 4 years ago.