What does the RFP do?
A request for proposal compares — RFPs evaluate the overall value a vendor can offer
What does an RFQ do?
The request for quotation quantifies — RFQs detail the cost of meeting a specific need
What does it mean to procure a resource?
The resource is contracted out.
Name different types of resources a project manager needs to acquire?
People, Physical, Financial
What is the purpose of a Weighted Scoring Model?
To give some selection criteria more importance than others, like budget.
What does a RFI do?
The request for information educates — RFIs explore potential solutions that vendors offer