How to Get a Job For Project Managers

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AI for Agile Project Managers and Scrum Masters

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AI-Prompt Engineering: Managers, Project Managers and Scrum Masters

Prompt and Content Engineering to boost your productivity.

How to Get a Job For Project Managers

Learn how to write resume and interview

Leadership for Project Managers

Learn how to lead and drive project success.

Project Management Bootcamp

From a beginner to project management professional.

Agile Project Management and SCRUM with AI

Learn to run Scrum and Agile with AI.

Advanced Lean Six Sigma

Learn to improve your business.

Measuring Project Performance

Learn Earned Value Analysis

AI for Agile Project Managers and Scrum Masters

Master AI to supercharge your Agile practice.

AI-Prompt Engineering: Managers, Project Managers and Scrum Masters

Prompt and Content Engineering to boost your productivity.

Request for Quotation (RFQ)

A procurement document used to ask potential vendors to provide prices for clearly specified, standard goods or routine services. In some situations it substitutes for an RFP, and in certain fields the term can carry a more limited or specific meaning.

Key Points

  • Used to obtain price quotes for well-defined, common products or services.
  • Selection is primarily price-based; technical approach is usually simple or predefined.
  • Typically sent to multiple sellers to enable straightforward comparison.
  • May be used instead of an RFP, with a narrower meaning in some industries.

Example

A project manager needs 100 standard laptops matching a published spec. The team issues an RFQ listing the model, configuration, quantity, delivery date, and warranty terms. Several vendors submit price quotes; the buyer compares total cost and lead time and awards the purchase to the lowest compliant quote.

PMP Example Question

Your team must buy 300 identical network switches with a fixed specification, and the decision will be based mainly on price. Which document should you issue to prospective sellers?

  1. Request for Proposal (RFP)
  2. Invitation for Bid (IFB)
  3. Request for Quotation (RFQ)
  4. Statement of Work (SOW)

Correct Answer: C — Request for Quotation

Explanation: An RFQ is used to obtain price quotes for standard, well-defined items when selection is primarily based on cost.

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