What is a Tender and how is it to be executed?
A Tender is a term frequently used to describe the public release of the requirements of goods and services for a project. A Tender process is a process within which a project requests from the external market place proposals on the supply of goods and services to that project. The process that the project team defines to create a tender will involve a number of steps which will include releasing documents such as a statement of work, a request for information, and a request for proposal.
Check out project management life cycle