RFP, RFQ, IFB – What’s the Difference?
Confused by all the government procurement terms? Here’s a quick breakdown: - RFP (Request for Proposal): Detailed proposals, evaluation criteria. - RFQ (Request for Quote): Pricing-focused, simpler. - IFB (Invitation for Bid): Strict requirements, often construction or products. Tip: Understanding the type of solicitation changes your strategy entirely. Question: Which type do you usually target, and why?