According to the PMBOK, a make-or-buy analysis is used to determine whether work or deliverables can best be accomplished by the project team or should be purchased from outside sources. Following that, a procurement strategy should be identified. Conduct procurement is the process of obtaining seller responses, selecting a seller, and awarding a contract. A contract is defined as a mutually binding agreement between the buyer and the seller. Address the following for each of the bulleted items listed in the assignment description:

• What are three factors that can be considered in the make-or-buy process? Share an example on each and explain how it isused in the decision to make or buy the project's product or service.
• It is always a good idea to include the evaluation method in the procurement documents so bidders know how they will be evaluated. What are three commonly used selection methods in the source selection process? Share an example on each and explain how you would use it in real life.
• What are some of the most important components in an agreement? Share an example of some of the contract administrative activities and data techniques used in the control procurement process.
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Answer rating: 100% (QA)

MakeorBuy Analysis Procurement Strategy and Contract Administration 1 MakeorBuy Analysis Here are three factors considered in the makeorbuy process a Expertise and Resources Example Your project requi... View the full answer