Discuss the following in detail:
1. Many projects need to procure services to execute successfully no matter what industry you are in. There is a personal relationship with the service provider, which makes collaboration much more important than when selecting goods products. Describe a project you have been involved with, or have knowledge of, where services were a major part of the deliverables. How were references checked for service suppliers and what lessons were learned from the process? What contributing factors ultimately led to the service supplier being selected?
2. Target pricing is experiencing growing use in North America. Should businesses use target pricing? Do you think target pricing can only be used for manufactured goods, or can it also be applied to services? Defend your choices.