In order for the organization to choose an ERP solution within its budget, Panorama will conduct a cost assessment of potential vendors early in the project. This high-level analysis is designed to eliminate vendors that provide software that is too costly or risky relative to the organization’s business needs. The intent is that this initial analysis will provide a high-level budgetary estimate to help eliminate potential vendors that do not meet pre-defined cost criteria. This Total Cost of Ownership (TCO) analysis will be the starting point for determining the vendor short-list. The TCO estimate will be further refined once an initial vendor decision has been made.