Selecting and awarding a vendor may have significant monetary and non-monetary ramifications for a company. This activity cannot be taken lightly and should not be a result of improvisations. Hence, project and procurement teams plan their activities prior to executing procurements.

• Describe various planning activities that you would perform to ensure that a company's interests are protected when identifying and hiring a vendor.

Share experiences or knowledge gained through reading relevant textbook and articles, as well as watching educational videos. Provide substantive responses related to Unit 4 learning objectives. Ensure that responses satisfy length requirements and that they reflect your ideas and point of view rather than materials copied and pasted from various sources.