Project Management by G. Michael Campbell PMP

Author:G. Michael Campbell PMP [Campbell, G. Michael]
Language: eng
Format: epub
Publisher: DK Publishing
Published: 2014-03-04T00:00:00+00:00

Now you can get to the bottom line of working with outside suppliers. Never view an estimate as final. Negotiation is a fine art. When you are ready to begin negotiations, you should plan for and include the following ideas in your thinking:

Based on your work breakdown structure (WBS), determine the maximum amount of money you expect to pay as well as the minimum amount.

Determine how you will evaluate the competing bids. Will you just decide on the lowest price, or will quality, reputation, or other factors (such as financial stability) be just as important as price?

Decide whether you want a single source or multiple vendors for your project. On a large project, you may want to deal with just one vendor who can provide all the resources you require. On the other hand, hiring a collective group of smaller vendors that are considered “best of breed” in their area of expertise might be the right model. Your answer often depends on the risk assessment you have done.

Review past performance on similar projects. You want to make sure that the vendor is capable of delivering on your project based on the experience of others.

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