Heading home on the subway after a late meeting, and picked up the free evening newspaper. I was standing on the platform flipping the pages, reading headlines, and glanced up to see a familiar face on the platform looking back at me with that “don’t I know you?” look. “Vladimir, how are you?” I exclaimed, […]
Category Archive for 'Procurement'
Contracts can take time, a long time, to negotiate. And often, there is legitimate pressure to expedite, with diligence, the engagement of the Vendor. This is where the Letter of Intent (LOI) surfaces as an option. An LOI is a type of letter issued to a Vendor to confirm the awarding of a contract and […]
A Statement of Work (SOW or STOW) is a narrative description of the work to be performed, as part of a project. Very useful for work performed under Contract by a Vendor. When multiple vendors are engaged to deliver a project, multiple SOW will be produced. If the project involves only internal resources, an SOW […]
The wise management of procurement of products and services will include one or more of an RFP, RFQ, and RFI. This post will discuss Lessons Learned during these processes. The books and courses at your disposal offer great advice but don’t necessarily address every situation that may surface, thus this post, which will evolve and […]