Bidding process

The bidding process is used to select a vendor for subcontracting a project, or for purchasing products and services that are required for a project. Bid records contain the specifications of the project or details of the products and services to be purchased.

A typical bidding process in IBM® TRIRIGA® consists of the following stages:

1. The project manager or contract/purchasing manager creates a bid that describes the specifications and estimated cost of the project.
2. The manager issues the bid.
3. (Optional) The reviewers approve the bid.
4. The manager sends the bid to a group of vendors for response.
5. The vendors analyze the bid and calculate the cost at which they can complete the project. Each vendor responds to the bid with details about the products and services that are needed and the overall cost.
6. The manager manages and analyzes the bid responses.
7. The manager awards the bid to the vendor that best meets the requirements of the project.
8. A standard contract is automatically created by using the bid details and response information.

During the process, the manager or vendor can request clarification about the bid.