Seller proposal is a formal response from sellers to a request for proposal or other procurement document specifying the price, commercial terms of sale, and technical specifications or capabilities the seller will do for the requesting organization that, if accepted, would bind the seller to perform the resulting agreement within the project management.
Expert judgement may be used in evaluating seller proposals. The evaluation of proposals may be accomplished by a multi-discipline review team with expertise in each of the areas covered by the procurement documents and proposed contract within the project management. Conduct procurement is the process of obtaining seller responses, selecting a seller and awarding a contract. The key benefit of this process is that it provides alignment of internal and external stakeholder expectations.
This process has inputs and outputs, wherein seller proposals are under the inputs category of the project management. Expert judgement is often used to assess the inputs to and outputs from this process. Expert purchasing judgement can also be used to develop or modify the criteria that will be used to evaluate seller proposals.
This term is defined in the 5th edition of the PMBOK.