During the execution of a construction project, you are tasked with planning and managing the procurement strategy. You must ensure that the strategy optimally aligns with the project objectives, cost constraints, and schedule. What is your best approach for developing this strategy?
Select the supplier with the lowest bid to minimize costs and streamline the procurement process.
Decide on suppliers based solely on the recommendations of the project team without a formal evaluation process.
Gather proposals or bids from multiple suppliers to evaluate and select resources based on cost, schedule, and quality considerations.
Continue using suppliers from past successful projects without seeking additional bids, assuming their services will continue to meet project needs.