Question: What is the difference between a request for quotation (RFQ) and a request for proposal (RFP)?

What is the difference between a request for quotation (RFQ) and a request for proposal (RFP)?

Step by Step Solution

★★★★★

3.43 Rating (178 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Request for Quotation RFQ is a type of procurement document used to request price quotation... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

586-B-M-L-P-M (1943).docx

120 KBs Word File

Students Have Also Explored These Related Management Leadership Questions!

Q:

After an organization has developed a list of potential suppliers, how should the organization evaluate each supplier individually?

Q:

What would be your top five considerations when selecting a type of contract to enter into?

Q:

Using examples, describe how a project manager can use active listening. Why is this useful?

Q:

Please help. I need some explanation 1. a. Project managers must frequently decide whether to obtain needed products and services from internal sources or from external sources. This decision is...

Q:

Describe the differences between a request for quotation (RFQ) and a request for proposal (RFP)? Be specific as to the information included in each. Select one of the fixed-price contracts, one of...

Q:

Name the three processes that make up project procurement management.What is the difference between a request for quotation ( RFQ ) and a request for proposal ( RFP ) ? Describe two methods that can...

Q:

Name the three processes that make up project procurement management.What is the difference between a request for quotation ( RFQ ) and a request for proposal ( RFP ) ? Describe two methods that can...

Q:

Explanation: Describe the purpose of key procurement documents, and explain the content of each document. Request for information (RFI): Text, text Request for quote (RFQ): Text, text Request for...

Q:

Time left 0:21:41 Not yet answered Marked out of 2.00 Flag question Question You've lead your team through the procurement planning process. Several procurement specialists on your team were integral...

Q:

Which type of solicitation is used for complex requirements involving the need to negotiate or hold discussions with potential offerors? ( 2 Points ) Undefinitized Contract Action ( UCA ) Invitation...

Q:

10)A conical cup is 4 cm across and 6 cm deep. Water leaks out of the bottom at the rate of 2 cm/sec. How fast is the water

Q:

1. Update the RMO relational database design in Figure based on the changes that you made to the ERD. Be sure that all your database tables are in 3NF. 2. Write ODL schema specifications for all new...

Q:

Can you please go through each task with some made - up numbers to help learned each task. Understand IP Addressing and VLSM Configure VLANS ( name & IP on Mgmt VLAN ) SSH for in - band management...

Q:

A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer is called (A) undifferentiated marketing (B) differentiated...

Q:

What is validate scope?

Q:

When does a project move into the closing stage?

Q:

A Kanban board showing work done, in progress and to do for the arboretum project is shown in Exhibit 14.27. Questions: 1. What ongoing risks do you envision for this project? How do you believe each...

Q:

(c) How might the statement of cash flows help the user of the financial statements? P5-7 (L01,3,5,6) GROUPWORK (Preparation of a Statement of Cash ing balance sheet at December 31, 2016. Flows and...

Q:

please show work for how you calculate the payment amounts. Using N, I, PV,FV Exam 2 -Critical Thinking Question 2 Question: Your cousin is aware that you are taking a finance class and has come to...

Q:

First drop down: does not allow us & allows us. Second drop down: is & is not. The National Sleep Foundation surveyed representative samples of adults in six different countries to ask questions...