The project manager has been negotiating with an integrated circuit vendor for the last six months and has sent the vendor a statement of work. The vendor has responded with a fixed-fee pricing proposal. The project manager responded with a letter of intent. Why did the project manager send this letter?

Question

Business

Nathanial Williamson

13 April, 02:33

The project manager has been negotiating with an integrated circuit vendor for the last six months and has sent the vendor a statement of work. The vendor has responded with a fixed-fee pricing proposal. The project manager responded with a letter of intent. Why did the project manager send this letter?

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Answers (1)

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Reyna · Answer 1

It means that the project manager is aware of the price and has accepted to follow through with the fixed price proposed.

Explanation:

This is a letter of understanding to facilitate the kick off of a business or project.