Make or Buy Analysis Notes: Definitions & Explanations PDF | Download eBooks
Study Make or Buy Analysis lecture notes PDF with project management definitions and explanation to study “What is Make-or-Buy Analysis?”. Study make or buy analysis explanation with project management terms to review project management course for online MBA programs.
Make or Buy Analysis Definition:
A make-or-buy analysis is used to determine whether work or deliverables can best be accomplished by the project team or should be purchased from outside sources.
A Guide to the Project Management Body of Knowledge by Project Management Institute
Make or Buy Analysis Notes:
In the process of procurement management, data regarding the need of procurement is collected. The gathered data must be analyzed. One of the technique used for data analysis of procurement requirements is called make-or-buy analysis. As the name indicates, make or buy analysis involves the determination of procurement needs by considering both options; work accomplished by the project team or the need of outsourcing. Using make or buy analysis, decision is made whether it is easy for the project team to perform the particular task or is it better to be done by an outside source. Some factors are considered in make or buy analysis that include current resource allocation, skills and expertise available within the team, the need for independent and special expertise etc.
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