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Running Head: PROJECT MANAGEMENT 2

PROJECT MANAGEMENT 2

Project Management

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Other factors other than cost that should be considered in selecting a building contractor are; the reputation of the building contractor, and the reputation of the contractor is one of their most valuable assets. If the contractor has the reputation that is reliable and honest, one can feel confident that it stems from great customer service and quality work. The other factor is the quality of work; one should read the website of the company and also talk to previous customers and look at some of their past projects. Another one is customer service; one should choose a contractor that puts customer service above everything else (Findthehomepros, 2017). The lowest bid always seems the most attractive, but it does not always lead to the lowest final costs.

A Request for Quote is mostly used when one knows what they want but requires information on how vendors would meet their needs and how much it will cost, while a Request for Proposal is used when one knows they have a problem but don't know how they want to solve it. One of the examples where RFQ could be used is when a company requires materials or items with known specifications. Another example is where the company needs to make a large-scale purchase. One of the examples where RFP could be used is when large-scale services like construction, legal advice, or maintenance are required. Another example is the organization can use RFP when a project is sufficiently complex, require a significant deal of technical data, solicits hard data for comparison and analysis and thereby warrants a formal proposal from a supplier. RFQ is best used when one really needs to compare vendors and responses objectively.

References

Findthehomepros. (2017). 6 things to consider when choosing a builder. Find the Home Pros | We Have Standards. https://findthehomepros.com/6-things-to-consider-when-choosing-a-builder/