Bid Duration (graded) How do you go about defining the proper duration for a bid procurement? Consider the time that it takes to plan for the procurement, draft an RFI and/or RFP, receive responses, and make a decision. What could you do if you needed to fast track this bid duration? The period of time from which a customer decides to procure until the actual contract procurement decision is made may vary onsiderably in terms of duration from project to project. It will also depend upon the customer's reasons for procurement, the customer's and the vendor's negotiating flexibility, and the complexity of the transaction. Each of the stages woould need to be completed in the bidding process as mentioned below.

• Plan for the procurement
• Draft an RFI and/or RFP - This stage involves...