HRCI PHR Exam - Topic 5 Question 1 Discussion

A request for proposal (RFP) is a procurement document that asks the vendor to provide solutions, ideas, and detailed information about the outsourced function. The vendor will provide a proposal in response to the RFP. An RFP is often sent with a statement of work that details the outsourcing need that the vendor is to provide a solution and a price.

Answer option B is incorrect. A Request for Quote (RFQ) is a procurement document that asks the vendor to provide just a price for the solution to be purchased - no ideas or suggestions are needed from the vendor. RFQ are often used with materials, such as cost per metric ton or cost per unit.

Answer option C is incorrect. An invitation for bid (IFB) is identical to the request for quote. It is a procurement document asking the vendor for a fixed price for a specific thing to be purchased.

Answer option D is incorrect. A request for information (RFI) asks the vendor for more information about their solution, services, or company.

An RFI could ask for samples, references of work, white papers, and more information.