Home  >  PMP - Project Management Professional  >  PMP Glossary

The process of comparing the costs of a vendor proposal with outside sources or other vendor prices to determine whether estimates are reasonable. It's an output of the Plan Procurement Management process and is used throughout most of the procurement processes.

🎲 Try a Random Question  |  Total Questions in Quiz: 554  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
PMP Glossary — practice the complete quiz, review flashcards, or try a random question.
🧠 Flashcards (fast review) 🧪 Practice Quiz ⚔️ Challenge a Friend 🥊 📊 View Stats

1. The process of comparing the costs of a vendor proposal with outside sources or other vendor prices to determine whether estimates are reasonable. It's an output of the Plan Procurement Management process and is used throughout most of the procurement processes.





 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.