Which of the following would a project manager do NEXT after selecting a vendor for a project?

Determining a list of qualified sellers is part of the Plan Procurement Management and Conduct Procurements processes, which occur before vendor selection.

Determining vendor resource availability is typically done during the selection process or even earlier when soliciting proposals, to assess a vendor's capability to perform the work.

Holding a bidders conference occurs before proposals are submitted and before vendor selection, to clarify the procurement documents for potential sellers.

After selecting a vendor, the next logical and essential step in the procurement process is to negotiate the contract. This involves formalizing the terms and conditions, scope of work, deliverables, payment schedules, and legal obligations with the chosen seller to create a legally binding agreement.