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Guide to Evaluation Criteria in Procurement Planning following PMBOK Guide Seventh Edition

The Evaluation Criteria forms a vital part of the procurement planning process in project management. It helps in determining the vendor or supplier that is most qualified and offers the best value for the project.

According to the PMBOK Guide Seventh Edition, the evaluation criteria consists of cost, quality, delivery schedule, potential future support, and the reputation of the potential vendors. These are quantifiable measures that help in making objective comparisons between potential vendors and make an informed procurement decision.

Understanding how it works will help you a lot in the exam. Consider each criterion and rate each potential vendor against these criteria. Set priorities and rank each bid to give a clear idea of how well the vendor fits within the defined evaluation criteria.

Exam tips: Answering Questions on Evaluation Criteria: In exam questions, you need to demonstrate your understanding that the evaluation criteria is about more than cost. It is a balanced comparison of several factors that determine the best value for the project. Questions may test your insight into the different weightage of each criterion depending on the unique needs of a project. Answers should reflect a holistic approach, considering all criteria, instead of focusing single-mindedly on the cost.

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Evaluation Criteria practice test

The evaluation criteria are a set of predefined factors used to assess and compare supplier proposals during the procurement planning process. These factors can include price, quality, technical capability, delivery schedules, and past performance. By establishing clear evaluation criteria, project managers can ensure a fair and transparent selection process and choose the most suitable supplier to meet the project's needs. The evaluation criteria provide a consistent and objective method for comparing proposals, reducing the risk of bias or favoritism. They encourage fair competition among suppliers and promote the selection of the most capable and cost-effective suppliers to support the project's objectives.

Time: 5 minutes   Questions: 5

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Project Management Professional Preparation Package (2024)

  • Earn 35 PDUs needed for your PMP certification
  • 10928 Superior-grade Project Management Professional practice questions.
  • Accelerated Mastery: Deep dive into critical topics to fast-track your mastery.
  • Unlock Effortless PMP preparation: 5 full exams.
  • 100% Satisfaction Guaranteed: Full refund with no questions if unsatisfied.
  • Bonus: If you upgrade now you get upgraded access to all courses
  • Risk-Free Decision: Start with a 7-day free trial - get premium features at no cost!