Join Bob McGannon for an in-depth discussion in this video Testing your market, part of Project Management Foundations: Procurement (2014).
- I am a fan of the Rolling Stones…and one of my favorite songs includes the lyric,…"You can't always get what you want,"…"but if you try sometime you find"…"you get what you need."…You should be relieved I didn't try to sing…that lyric, but I was tempted.…For project procurement getting what you need…involves creating solicitation or procurement documentation…to inform potential sellers that you're interested…in procuring products and or services.…The following are three types of Solicitation Documents…that are commonly used for this purpose.…
The Request for information, or RFI,…a Request for quotation, or RFQ,…and Request for proposal, or RFP.…Let's take these one at a time.…The Request for Information or RFI enables you to obtain…information from the suppliers who could provide…the products and services you're seeking.…It's comparable to a fact-finding exercise.…The RFI can provide valuable information, such as which…suppliers can provide the products/services you need,…Pricing data, a Mechanism for you to compare sellers,…
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- Define project procurement.
- Distinguish when to use vendors and partners.
- Compare and contrast building versus buying.
- Identify different types of contracts.
- List types of payment approaches.
- Test your market.
- Build and use a request for information (RFI).