ICE & CostPrice Analysis.pdf

The document discusses the importance of conducting independent cost estimates before receiving quotes for procurement in a transit agency. It emphasizes the need for these estimates to comply with regulations and be based on factors like published price lists, historical pricing, and comparisons with other agencies. It also covers cost/price analysis, distinguishing between cost, price, and price analysis. The process involves using the independent cost estimate as a benchmark, analyzing received prices, and ensuring fairness and reasonableness. Various resources are recommended for analysis, including agency procurement history, online communities, price lists, and government publications.