PK0-003 · Question #26
A project team is deciding on whether to "make or buy". As part of the decision-making process, the team decides to request a product update from key product suppliers. Which of the following should b
The correct answer is B. RFI. To gather general information and product updates from potential suppliers without committing to a specific purchase, a Request for Information (RFI) is the appropriate document.
Question
A project team is deciding on whether to "make or buy". As part of the decision-making process, the team decides to request a product update from key product suppliers. Which of the following should be used to facilitate this?
Options
- ARFQ
- BRFI
- CRFP
- DVendor selection
How the community answered
(37 responses)- A3% (1)
- B95% (35)
- C3% (1)
Why each option
To gather general information and product updates from potential suppliers without committing to a specific purchase, a Request for Information (RFI) is the appropriate document.
A Request for Quotation (RFQ) is used when the scope of work or product specifications are clearly defined and the primary goal is to obtain pricing from suppliers.
A Request for Information (RFI) is a preliminary document used to gather general information from suppliers about their capabilities, products, or services. It is ideal for the 'make or buy' decision process when the team needs product updates and information but is not yet ready for specific bids or proposals.
A Request for Proposal (RFP) is used when the requirements are complex and require detailed solutions, technical approaches, and pricing proposals from suppliers.
Vendor selection is the process of choosing a supplier after evaluating responses to RFIs, RFQs, or RFPs, not a document used to solicit information.
Concept tested: Procurement document types
Source: https://www.pmi.org/learning/library/procurement-strategy-document-preparation-6681
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