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training:project_management:procurement:make_or_buy_formulas

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training:project_management:procurement:make_or_buy_formulas [2023/07/21 16:05] – created wikiadmintraining:project_management:procurement:make_or_buy_formulas [2023/07/21 16:06] (current) – wikiadmin
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 In Project Procurement Management, the "make or buy" decision is a critical process that involves evaluating whether to produce certain project components (goods or services) in-house (make) or to acquire them from external suppliers or vendors (buy). This decision is based on various factors, including cost, expertise, time constraints, and risks. Project managers often use certain formulas or calculations to assess the most economically and strategically viable option. Here are the key formulas used in the "make or buy" decision process: In Project Procurement Management, the "make or buy" decision is a critical process that involves evaluating whether to produce certain project components (goods or services) in-house (make) or to acquire them from external suppliers or vendors (buy). This decision is based on various factors, including cost, expertise, time constraints, and risks. Project managers often use certain formulas or calculations to assess the most economically and strategically viable option. Here are the key formulas used in the "make or buy" decision process:
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 1. **Cost Comparison Formula**: 1. **Cost Comparison Formula**:
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 It's important to note that these formulas and assessments are not strict rules but rather tools to aid decision-making. In practice, the "make or buy" decision might involve a combination of financial analysis, risk assessment, and strategic considerations. Project managers, along with relevant stakeholders, need to thoroughly evaluate all relevant factors before making a final decision. It's important to note that these formulas and assessments are not strict rules but rather tools to aid decision-making. In practice, the "make or buy" decision might involve a combination of financial analysis, risk assessment, and strategic considerations. Project managers, along with relevant stakeholders, need to thoroughly evaluate all relevant factors before making a final decision.
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training/project_management/procurement/make_or_buy_formulas.1689937541.txt.gz · Last modified: 2023/07/21 16:05 by wikiadmin