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PGMP · Question #233

What document should you provide to the vendors if you're only interested for a set fee for their materials?

The correct answer is A. IFB. An Invitation for Bid (IFB) is used when the buyer wants vendors to compete solely on price for clearly defined materials or services.

Program Life Cycle Management

Question

What document should you provide to the vendors if you're only interested for a set fee for their materials?

Options

  • AIFB
  • BRFP
  • CRFI
  • DSOW

How the community answered

(27 responses)
  • A
    89% (24)
  • B
    7% (2)
  • D
    4% (1)

Why each option

An Invitation for Bid (IFB) is used when the buyer wants vendors to compete solely on price for clearly defined materials or services.

AIFBCorrect

An IFB is the appropriate procurement document when specifications are fully defined and the selection criterion is price alone. Vendors submit a fixed price bid, making it ideal when a set fee for materials is required without negotiation on scope or approach.

BRFP

An RFP (Request for Proposal) is used when the buyer wants vendors to propose both a solution and a price, implying scope or approach is not fully defined.

CRFI

An RFI (Request for Information) is a preliminary document used to gather market information from vendors before issuing a formal solicitation, not to obtain pricing.

DSOW

A SOW (Statement of Work) describes the work to be performed and is an attachment to a contract or solicitation, not the solicitation document itself used to request a fixed price.

Concept tested: IFB procurement document for fixed-price selection

Source: https://www.pmi.org/pmbok-guide-standards/foundational/pmbok-guide

Topics

#Procurement Management#Procurement Documents#IFB#Vendor Selection

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