Chapter 15
Bid Evaluation—Ranking the Tender Bids
Bid evaluation (also referred to as bid assessment, tender analysis, tender appraisal, or proposal evaluation) is a step in the process of formulating and executing project implementation strategy. One of the submitted bids (also referred to as offers, tenders, or proposals) is found to be the best bid, and the bidder (also referred to as tenderer) of the best bid is chosen to be external contributor. If the so-called best bid is accepted within the predefined validity term, a contractual relationship is agreed between the client and the bidder, that is, the contributor. Thus, identifying and accepting the best bid needs to be a very well-considered task in the client organization. This chapter ...
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