Your question is Sole Source Price Reasonableness. Take a moment with it on the right.
Talk me through your thinking if you like. When you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes).
You're supporting a procurement team on a sole-source buy where there is no direct market competition to anchor the negotiation. Leadership wants a clear method for testing whether the supplier's quote is fair and reasonable before award.
How do you conduct a cost and price analysis for a sole-source procurement to ensure a fair and reasonable price?