Vendor bid analysis

Below are the description of all the uses of the working document “Vendor bid analysis”:

“Vendor Bid Analysis” is a tool/technique for the process “Estimate costs”.
Cost estimating methods may include analysis of what the project should cost, based on the responsive bids from qualified vendors. When projects are awarded to a vendor under competitive processes, additional cost estimating work may be required of the project team to examine the price of individual deliverables and to derive a cost that supports the final total project cost.

This definition was found in the PMBOK V5

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