The procurement project management plan defines how the procurement management processes should be carried out. Conducting procurement is part of the procurement process, and it is defined as the process of getting responses from potential sellers, choosing a seller, and awarding the contract to the chosen seller. It is vital to take note that there are two roles involved in conduct procurementthe buyer and seller. A business sponsor asked you as the project manager to explain the concept of weighted evaluation models. The business sponsor also asked you these specific questions: 

How do you set the weight factors? 

Is it just a subjective guess?" 

Please post one to two paragraph(s) for your initial posting by addressing the following two questions. 

Explain the weighted evaluation mode. 

Discuss how you would address the other two business sponsor's questions?

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The weighted evaluation model is a technique used in procurement management to systematically assess ... View the full answer