Project Tendering Process (also known as Inviation to Tender process) is established to enable an organization to find out the preferred suppliers: it is aimed to assist a company on selecting the right supplier (the most suiting one among competitors) at the right time. Tender is a public release of an organization’s demand and requirements for supplies and services for their project(s). The sense of this process is to regulate procedures of requesting, receiving, analyzing, evaluating and prioritizing (screening out the less competitive) of the suppliers’ proposals.
Project Tendering Process is a formal way for an organization to reach representatives of the external market with their demands for supply and services required by their project(s). During the tendering process there are several major documents to be composed:
- Statement of Work (defines the work or service you request from an external supplier);
- Request for Information (defines the information that suppliers should provide to you);
- Rrequest for Proposal (verifies that you have all the information to support you in making your preferred supplier decision and specifies the key terms you are going to include into a supplier agreement);