The IT team at Gypord Inc. is developing a new inventory control module. To date, the team has interviewed end users and management to define their essential needs for data processing, tracking, control, and reporting. Several vendors were asked to submit a request for proposal (RFP). Three proposals have been returned. None of them provide for all the essential and "nice-to-have" features requested, and only one proposal is within the requested budget amount. What should the team do next?

Options:

- Analyze and rank the submissions.

- Discontinue the project.

- Award the contract to the vendor whose proposal meets the greatest number of requirements.

- Award the contract to the vendor whose proposal is within budget.