4.3 - Identify common partner and vendor-centric documents and their purpose

Question 1

Procurement Documents

Answer 1

• RFI: devlop lists of qualified vendors and gain input for resource availability, gather relevant vendor info and financial history, background
• RFP: used when deliverables are not well defined or when other criteria will be used in addition to price, requests bids for work
• RFQ: used when deliverables are commodities and when price is determining factor, price used for comparison purposes and not a formal bid for work

Question 2

Mutually Binding Documents

Answer 2

• Agreement/Contract
• NDA
• Cease and Decist
• Letters of Intent
• Statement of Work: describes the products/services that the project will supply, business need, work that will be done, internal/external
• MOU: agreement between two or more parties to form a business partnership
• SLA: contract between organizations that provides a service, specifies performance standards and obligations
• Purchase Order
• Warranty