Case 7-2
Tom started the process of selecting a new system for the firm and he is weighing all of the various issues that need to be considered and the resources he has at his disposal as he makes this important decision.
-As Tom prepares to remove the field in his selection of a new system, he wants a quick refresher on the difference between a request for proposal (RFP) and a request for quotation (RFQ). If he needs a request for proposal (RFP), Simone will write it, and if he needs an RFQ, Marny is responsible for writing that. Which of the following is true?
A) An RFP that Simone writes is more specific than an RFQ Marny will write.
B) When Simone is tasked with the job, Tom already knows the specific product or service he wants and he needs to obtain price quotations or bids.
C) When Marny is tasked with the job, her output can involve outright purchase or a variety of leasing options.
D) RFPs and RFQs have very different objectives.

Question

Case 7-2
Tom started the process of selecting a new system for the firm and he is weighing all of the various issues that need to be considered and the resources he has at his disposal as he makes this important decision.
-As Tom prepares to remove the field in his selection of a new system, he wants a quick refresher on the difference between a request for proposal (RFP) and a request for quotation (RFQ). If he needs a request for proposal (RFP), Simone will write it, and if he needs an RFQ, Marny is responsible for writing that. Which of the following is true?​
A) An RFP that Simone writes is more specific than an RFQ Marny will write.
B) When Simone is tasked with the job, Tom already knows the specific product or service he wants and he needs to obtain price quotations or bids.
C) When Marny is tasked with the job, her output can involve outright purchase or a variety of leasing options.
D) RFPs and RFQs have very different objectives.

Quizplus · Accepted Answer

An RFQ is a request for quotations for a specific product or service, while an RFP is a request for proposals, which is a more formal document that outlines the project or service specifications and is used to solicit proposals from vendors. Therefore, when Simone is tasked with writing an RFP, it means that Tom is seeking proposals for a specific project or service, and Simone's document will be more detailed and specific than Marny's RFQ. When Marny is tasked with writing an RFQ, Tom has already identified the product or service he wants to purchase, and Marny's document will be focused on obtaining the best price or bid for that product/service. Therefore, option B is the correct answer. Option A is incorrect because an RFP is generally more detailed and specific than an RFQ, which is focused solely on price or bid. Option C is incorrect because while an RFQ can involve different leasing options, it is not the focus of the document, and an outright purchase is usually the primary objective. Option D is incorrect because while the objectives of RFPs and RFQs are different, they are not vastly different, as both are used for procurement purposes.

Case 7-2 Tom Started the Process of Selecting a New System for System