10C - Prepare Procurement Documents Flashcards
The ___ is a narrative description of the resources, goods, or services that are being sought from external sources to fulfill a project’s requirements; it is distributed to potential vendors, who will use it to evaluate their capability to perform this work or provide the services.
Procurement SOW
What does SOW stand for?
Statement of Work
Documents submitted to prospective vendors or service providers to solicit their proposals for the work needed.
procurement documents
Commonly used to develop lists of qualified vendors and gain more input for resource availability
RFI
What does RFI stand for?
Request for Information
Commonly used when deliverables are commodities for which there are clear specifications and when price will be the primary determining factor.
RFB
What does RFB stand for?
Request for Bid
Commonly used when deliverables are commodities for which there are clear specifications and when price will be the determining factor. Unlike an RFB, this solicited price quote is used for comparison purposes and is not a formal bid for work.
RFQ
What does RFQ stand for?
Request for Quote
Commonly used when deliverables are not well-defined or when other selection criteria will be used in addition to price.
RFP
Used interchangeably with RFP, and ___ is commonly used when deliverables are commodities for which there are clear specifications and when the quantities are very large.
IFB
What does IFB stand for?
Invitation for Bid
