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PK0-005: Prioritize Vendor Selection Documents in Project Management

By: Author Alex Lim

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Learn the correct order for issuing vendor selection documents like RFIs, RFPs, RFQs and RFBs when a project manager needs to engage a third-party vendor. Discover best practices for procurement in project management.

Table of Contents

Question

Because the project team lacks hands-on experience, the project manager has decided to involve a third-party vendor to complete the development of a product. Which of the following documents should the project manager expedite FIRST?

A. RFI
B. RFP
C. RFQ
D. RFB

Answer

B. RFP

Explanation

The project manager should issue a Request for Proposal (RFP) first when deciding to involve a third-party vendor to complete product development due to the project team’s lack of hands-on experience. Here’s why:

An RFP is a document that solicits detailed proposals from potential vendors. It outlines the project requirements, deliverables, timelines, and evaluation criteria. Vendors respond with comprehensive proposals describing their approach, capabilities, pricing, and terms.

Issuing an RFP should be prioritized over other procurement documents because:

  1. It provides a structured way to communicate the project scope and needs to vendors
  2. It allows the project manager to gather and compare detailed vendor proposals
  3. Vendor responses to the RFP enable a thorough evaluation of their fit for the project
  4. The RFP process establishes a foundation for vendor selection and contract negotiation

In contrast, a Request for Information (RFI) seeks general vendor information and capabilities, while a Request for Quote (RFQ) focuses narrowly on pricing for well-defined requirements. A Request for Bid (RFB) solicits bids for providing goods or services exactly as specified.

For a project needing outside expertise for product development, an RFP requesting comprehensive vendor proposals should be expedited first. The RFP responses will give the project manager the information needed to select the most qualified and suitable vendor.

CompTIA PK0-005 certification exam practice question and answer (Q&A) dump with detail explanation and reference available free, helpful to pass the CompTIA PK0-005 exam and earn CompTIA PK0-005 certification.