The approaches to evaluating vendor proposals that do not incorporate dollar estimates of costs or benefits are known as
A) benchmark problem and point scoring.
B) point scoring and requirement costing.
C) requirement costing and benchmark problem.
D) All methods mentioned above include dollar estimates.

Question

Quizplus · Accepted Answer

Point scoring involves evaluating proposals based on a predetermined set of criteria, such as functionality, reliability, scalability, and vendor experience, without considering monetary values. Requirement costing, on the other hand, involves estimating the costs associated with meeting specific functional requirements outlined in the RFP. Both of these approaches do not incorporate dollar estimates of costs or benefits. Benchmark problem, on the other hand, is a method of evaluating proposals by providing vendors with a set of data or problems to solve, which may or may not involve monetary values. Therefore, the best answer is B as it is the only option that correctly identifies the two methods that do not incorporate dollar estimates of costs or benefits.

The Approaches to Evaluating Vendor Proposals That Do Not Incorporate