System and method of assessing and rating vendor risk and pricing of technology delivery insurance
First Claim
1. A method for comparing bids utilizing a computer platform for the purpose of risk-adjustment received by a customer from a plurality of vendors for a particular technology contract, comprising the steps of utilizing said computer platform for processing information as follows:
- calculating an intrinsic rating P(k) for each of the vendors based upon the strength and performance of each of the vendors;
calculating a component Q(x,k) for each vendor which quantifies the ability/suitability of a vendor to deliver on a “
specific”
component of said technology contract or a Request For Proposal (REP) based on the vendor'"'"'s past performance;
calculating a component Q(x) which is the summation of the Q(x,k) and P(k);
determining an extrinsic two-way rating Vendor Rating (VR) of each of the plurality of vendors using the equation;
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Accused Products
Abstract
A method and system for providing a standardization and commoditizing the process of technology contracts and creating method for assessing, scoring, ranking and rating technology vendors for the purpose of comparing vendor bids on a project and for structuring and pricing insurance/surety contracts. Intrinsic and two-way vendor ratings are established for each of the vendors in a particular project. This two-way rating is used to provide a risk adjustment to the nominal bid of each of the vendors. The two-way rating is also utilized to structure and calculate an insurance premium based upon the probability that the vendor would fail/default on the delivery of a technology project.
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Citations
12 Claims
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1. A method for comparing bids utilizing a computer platform for the purpose of risk-adjustment received by a customer from a plurality of vendors for a particular technology contract, comprising the steps of utilizing said computer platform for processing information as follows:
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calculating an intrinsic rating P(k) for each of the vendors based upon the strength and performance of each of the vendors;
calculating a component Q(x,k) for each vendor which quantifies the ability/suitability of a vendor to deliver on a “
specific”
component of said technology contract or a Request For Proposal (REP) based on the vendor'"'"'s past performance;
calculating a component Q(x) which is the summation of the Q(x,k) and P(k);
determining an extrinsic two-way rating Vendor Rating (VR) of each of the plurality of vendors using the equation;
- View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A method for comparing bids on the computer platform for the purpose of risk adjustment received by a customer from a plurality of vendors for a particular technology contract, comprising the steps of utilizing said computer platform for processing information as follows:
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receiving nominal bids from said plurality of vendors for said particular technology contract including cost and time of delivery;
determining a rating for each of the vendors reflecting whether each of the vendor'"'"'s nominal bid will be timely and will not exceed the cost of said nominal bid;
utilizing said rating for each of the vendors to determine an adjusted bid for each of the vendors;
calculating an intrinsic rating P(k) for each of the vendors based upon the general performance of each of the vendors;
calculating a component Q(x,k) for each vendor which quantifies the ability/suitability of a vendor to deliver on a “
specific”
component of the technology contract or Request For Proposal (RFP) based on the vendors past performance;
calculating a component Q(x) which is the summation of the Q(x,k) and P(k);
adjusting for each vendor each of said nominal bids of each of said plurality of vendors utilizing each of said vendors two-way ratings to produce a risk-adjusted bid for each vendor;
determining an extrinsic two-way rating Vendor Rating (VR) of each of the plurality of vendors utilizing the equation;
- View Dependent Claims (9, 10, 11, 12)
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Specification