$3.$ What is the difference between an RFP$,$ RFI, and RFQ$?$ RFP $($Request for Proposal$)$: Purpose: To solicit detailed proposals from vendors for complex projects or services. Content: Includes project specifications, evaluation criteria, and submission guidelines. Outcome: Vendors submit detailed proposals outlining their approach, pricing, and qualifications. RFI $($Request for Information$)$: Purpose: To gather general information about products,services, or vendors. Content: Focuses on understanding capabilities andmarket offerings. Outcome: Vendors provide information that helps theorganization understand options and refine requirements. RFQ $($Request for Quotation$)$: Purpose: To obtain price quotes for specific products or services. Content: Includes detailed specifications and quantity requirements. Outcome: Vendors submit price quotes, allowing the organization to compare costs directly.Repharse in simple terms