Address the following based on the Woods Hole Oceanographic Institution (2018) reading for this week. This reading provides a real-world example of purchasing and bid requirements.
Part 1, Section 12.2 in PMBOK Guide
Noakes-Fry, K. (2016). Part I: Understanding the resilient supply chain. In K. Noakes-Fry (Ed.), Creating and Maintaining Resilient Supply Chains (14-63). Brookfield, CT: Rothstein Publishing.
Woods Hole Oceanographic Institution [WHOI]. (2015). Managing bids and negotiating prices. Retrieved from https://www.whoi.edu/procurement/managing-bids-negotiating-prices
Keung, C. W., & Yiu, T. W. (2015). Potential for long-term sustainability: A visit of bidding objectives and strategies from maintenance contractor’s perspective. Facilities, 33(3), 177-194.
Olaniran, O. J. (2015). The effects of cost-based contractor selection on construction project performance. Journal of Financial Management of Property and Construction, 20(3), 235-251.
Tkáč, M., Delina, R., & Sabolová , M. (2016). Analysis of request for proposals in construction industry. Quality Innovation Prosperity, 20(1), 104-117.
Cornell Law School. (2018). Uniform commercial code. Retrieved from https://www.law.cornell.edu/ucc.
Federal Acquisition Regulation (FAR). (2018a). Competition requirements. Retrieved from https://www.acquisition.gov/far/html/FARTOCP06.html#wp280339.
Federal Acquisition Regulation (FAR). (2018b). Part 12—Acquisition of commercial items. Retrieved from https://www.acquisition.gov/browse/far/12/6?&searchTerms=Request+for+Proposal.
Federal Acquisition Regulation (FAR). (2018c). Subpart 42.15—Contractor performance information. Retrieved from https://www.acquisition.gov/browse/far/42/15?&searchTerms=Evaluating+and+Selecting+Contractors
Holloway, M. D. (2016). Spend analysis and specification development using failure interpretation. Boca Raton: CRC Press: Taylor & Francis Group.