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12 - PROJECT PROCUREMENT MANAGEMENT

12.2.2.3 Independent Estimates

For many procurement items, the procuring organization may elect to either prepare its own independent
estimate, or have an estimate of costs prepared by an outside professional estimator, to serve as a benchmark on
proposed responses. Significant differences in cost estimates can be an indication that the procurement statement
of work was deficient, ambiguous, and/or that the prospective sellers either misunderstood or failed to respond fully
to the procurement statement of work.

12.2.2.4 Expert Judgment

Expert judgment may be used in evaluating seller proposals. The evaluation of proposals may be accomplished
by a multi-discipline review team with expertise in each of the areas covered by the procurement documents
and proposed contract. This can include expertise from functional disciplines such as contracting, legal, finance,
accounting, engineering, design, research, development, sales, and manufacturing.

12.2.2.5 Advertising

Existing lists of potential sellers often can be expanded by placing advertisements in general circulation
publications such as selected newspapers or in specialty trade publications. Some organizations use online
resources to communicate solicitations to the vendor community. Some government jurisdictions require public
advertising of certain types of procurement items, and most government jurisdictions require public advertising or
online posting of pending government contracts.

12.2.2.6 Analytical techniques

Procurements involve defining a need in such a way that vendors can bring value through their offerings. To
ensure that the need can be and is met, analytical techniques can help organizations identify the readiness of a
vendor to provide the desired end state, determine the cost expected to support budgeting, and avoid cost overruns
due to changes. By examining past performance information, teams may identify areas that may have more risk
and that need to be monitored closely to ensure success of the project.

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