Cost Determination Basis The WRPS project will use a Request for Proposal RFP

Cost determination basis the wrps project will use a

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Cost Determination Basis The WRPS project will use a Request for Proposal (RFP) process which is defined as “a type of procurement form that is used for the purpose of requesting or soliciting proposals from prospective purveyors or sellers of a series of products and or services” (Project Management Knowledge., n.d.). Once the RFP is completed this will be sent to Niche Technologies, Inc., and Versaterm, previously identified vendors. The vendors will then have the opportunity submit to the project sponsor and project manager for approval with a comprehensive plan including costs.
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The proposal shall address all requirements provided in the RFP and include any additional details considered pertinent to the proposal. Contract Approval Process Once the proposals are submitted, these will be checked by the Project Sponsor Project Manager, Vendor Management and Legal teams. After being reviewed a presentation will be arranged to endorse the peoposol. Performance Metrics for Procurement Activities The WRPS project criteria for the selection and awarding of the project contract will be based on the following decision criteria recommended by the Project Management Docs website (Project Management Docs., n.d.): Ability of the vendor to provide all items by the required delivery date Quality Cost Expected delivery date Comparison of outsourced cost versus in-sourcing Past performance (if applicable) Each of the above criteria will be graded using rating scale of 1 to 5 as follows: 1 = Not able to complete/deliver 2 = Able to complete/deliver less than 50% 3 = Able to complete/deliver greater than 50% but less than 75% 4 = Able to complete/deliver greater than 75% but less than 100%
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5 = Able to complete/deliver 100% The vendor who gets the highest grade will be recognized as the final applicant. Recommendation shall be made to the Steering Committee and final decision within two weeks from the date of the last demonstration.
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References Compeau, D., & Movold, J. (2007, 4 11). Ivey. Retrieved from Harvard Business Publishing Education: Johnson, T. (2017). CAPM Exam Bootcamp Manuel. Carrollton: Crosswind Project Management, Inc. Project Management Docs. (n.d.). Procurement Management Plan. Retrieved January 13, 2020, from - management-plan.html#axzz5C8sjpeAt Project Management Institute. (2013). A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Fifth Edition. Newtown Square, PA: Project Management Institute. Retrieved April 15, 2017, from A Guide to the Project Management Body of Knowledge (PMBOK® Guide), Fifth Edition: ? bkid=51356&destid=376#376 Project Management Knowledge. (n.d.). Request for Proposal. Retrieved January 13, 2020, from
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