A project manager needs to determine how much it will cost for a third party to complete certain deliverables and the steps they will take to complete those deliverables. Which of the following…

An RFQ (Request for Quotation) solicits only pricing information for well-defined goods or services and does not ask vendors to describe their approach or methodology.

An RFP solicits detailed proposals from vendors that include their methodology, approach, qualifications, and pricing for completing defined work. Unlike an RFQ, it captures HOW the vendor will accomplish the work, making it the appropriate tool when the project manager needs to evaluate both cost and execution strategy from third parties.

A WBS (Work Breakdown Structure) is an internal project planning document that decomposes project deliverables into smaller components; it does not gather information from external vendors.

A SOW (Statement of Work) is a document the project team creates to describe the work requirements given TO a vendor, not a tool for gathering cost or approach information FROM vendors.