Exam PK0-005 topic 1 question 198 discussion

trick question, although it is asking to compare cost such as in an RFB or an RFQ. It ask for a document to COMPARE INFORMATION on cost and services. Directly from CertMaster A request for proposal (RFP) is used to solicit multiple vendor proposals for a solution. An RFP is incredibly detailed, formal, and structured. You will provide specific information about the project, problem, scope, and critical details in an RFP. In addition, you would request targeted, specific information; this questionnaire should evaluate a solution’s fit for the project. You write an RFP when you are ready to purchase a solution. The vendors may compete for a single contract, or you may select multiple vendors to fulfill a contract. In either situation, this request will generate vendor responses that you can compare against each other because each vendor provides the same type of information.

RFQ - Used to get price information for a specific product or service when the buyer already knows what they want. RFQs are often used to compare prices from multiple vendors. Used for achieving the lowest price or quickly compare pricing and gather the best bids.

1. RFI - Request For Information 2. RFP - Proposal 3. RFB - Bid 4. RFQ - Quote

From AI source... D. RFP (Request for Proposal) A Request for Proposal (RFP) is typically used when a company wants detailed proposals from vendors to fulfill a specific project or service requirement. It outlines the company's needs, requirements, and evaluation criteria, allowing vendors to submit comprehensive proposals that address the company's requirements, including details on services, costs, timelines, and any other relevant information. Using an RFP enables the company to solicit competitive bids and evaluate vendor proposals objectively to make informed decisions.