Question

The project manager has been negotiating with an integrated circuit vendor for the last six months and has sent the vendor a statement of work. The vendor has responded with a fixed-fee pricing proposal. The project manager responded with a letter of intent. Why did the project manager send this letter?

Answer 1

It means that the project manager is aware of the price and has accepted to follow through with the fixed price proposed.

Step-by-step explanation:

This is a letter of understanding to facilitate the kick off of a business or project.