7. Explain the differences between competitive and sole-source contracts. 8. Define the terms â€œRequest for Proposal (RFP)â€...

80.2K

Verified Solution

Question

Civil Engineering

7. Explain the differences between competitive and sole-sourcecontracts.
8. Define the terms â€œRequest for Proposal (RFP)â€ and â€œInternetReverse Auctionsâ€.
9. Compare lowest cost versus best value procurements. What arethe advantages and disadvantages of the both methods?
10. Explain what a Request for Procurement Services (RFPS) is.What information the RFPS form must contain?
11. What skills do the members of a procurement team need tohave in order to be successful?
12. Explain what a Statement of Work (SOW) is. Why the SOW isone of the most important documents of the plan procurementsprocess.

Answer & Explanation Solved by verified expert

4.1 Ratings (524 Votes)

SOLUTION 7 Competitive procurement involves opening the process to bids and tenders to obtain the best value Noncompetitive procurement sometimes called sole source or singlesource procurement happens when the buyer either selects the company to buy from or restricts the bidding process to certain suppliers 8 Request For Proposal A request for proposal is a bidding solicitation in which a company or organization announces funding is available for a particular project or program and companies can place bids for the projects completion It outlines the bidding process and contract terms and provides guidance on how the bid should be formatted and presented A request for proposal for a specific program may require the company to review the bids to examine their feasibility the health of the bidding company and the bidders ability to do what it proposed Internet Reverse Auction A reverse auction is a type of auction in which the roles of buyer and seller are reversed In an ordinary auction also known as a forward See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

7. Explain the differences between competitive and sole-source contracts. 8. Define the terms â€œRequest for Proposal (RFP)â€...