According to the Project Management: The Managerial Process, the term 'outsourcing' has traditionally been applied to the transferring of business functions or processes. Once an organization decides to outsource project work, the customer or project manager is frequently responsible for developing a Request for Proposal (RFP). A well-developed RFP will provide contractors with sufficient guidelines to response. The final step in the RFP process is to select a contractor.

• What are three advantages and three disadvantages to outsourcing project work?
• How can outsourcing project work be advantageous to project budget and schedule? Share examples.
• Describe three best practices for outsourcing project work that can help you excel in managing your project and the buyer-seller relationship. Share an example of each.

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Advantages of Outsourcing Project Work 1 Cost Savings Outsourcing can often result in significant cost savings for organizations as they can access cheaper labor markets or specialized expertise witho... View the full answer