1. Where We are in the Project Cycle

During the previous phase, the contract structure was developed (with particular attention to financial and risk elements), the tender package was drafted, and authorization was sought to launch the tender process. See figure 6.1.

This phase covers the period from the launch of the project (which may be through a Request for Qualifications (RFQ) stage or by directly issuing an RFP in some jurisdictions), through the process of qualifying bidders, receiving and evaluating proposals, to the contract award and financial close stage.

At the end of this phase, the procurement process ends and the Contract Management Phase begins (contract management is discussed in chapters 7 and 8).

FIGURE 6.1: Where We are in the Process Cycle