Your company is planning to develop a new software product and is seeking comprehensive solutions from vendors, including methodologies, timelines, and cost estimates. Which exploratory document should the project manager issue to gather this information?
RFI
RFB
RFQ
RFP
The correct document to issue is the Request for Proposal (RFP). An RFP is used when an organization seeks comprehensive solutions from vendors, including methodologies, timelines, and cost estimates. It allows vendors to propose how they would meet the organization's needs, providing detailed approaches.
A Request for Information (RFI) is used to gather general information about the capabilities of vendors or products, not detailed proposals or solutions.
A Request for Quote (RFQ) is used when the organization knows exactly what product or service it needs and is only seeking price quotations.
A Request for Bid (RFB) is similar to an RFQ but is typically used in a formal bidding process and focuses on price in response to a well-defined need.
Since the company is seeking comprehensive solutions, the RFP is the appropriate document.
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