Read Example 1. Comment and add additional information. Your document should include about 100-150 words plus credible references.

Example 1:

The elements of project procurement documentation include invitations, RFIs, RFQs, and RFPs. Invitations are formal documents for the preferred goods, products, or services that the buyer is looking for. The document is developed by the buyer for the vendor that they desire to purchase. The next document is the RFIs, request for information, a formal process for the potential vendors with the products/services to be offered from the customers or buyers. It is sent to the suppliers/vendors for review if they are able to provide it to them. The RFQs are requesting quotations process, which is sent by the buyer of the price they would like to purchase the goods for. For example, a company submits the document of how much they would like to purchase the printer at that certain price. RFPs are requests for proposals, which is the most important document that states the project and the sellers/vendors that they plan to purchase from. They are commonly used when the project is complex and requires much information and data. Usually, RFPs include background information, a detailed description of the overall project, specific requirements, deadlines, milestones, and questions that will arise during the project. Of course, the products, tools, materials, and resources are also included in this document (Popov et al., 2021, p. 188).

These documents are independent documents of the overall project. Each of them needs to be developed and performed in a timely order to be beneficial for both parties that are involved in the project. In this collaborative environment, each team that is assigned to each level of the process needs to be on the same page prior to moving forward. The information that is finalized needs to be of the highest quality without the need to modify it in order to ensure the best outcome.

Reference:

Popov, V., Medineckiene, M., Grigorjeva, T., & Zabulenas, A. R. (2021). Building Information Modelling: Procurement Procedure. Business, Management & Education / Verslas, Vadyba Ir Studijos, 19(1), 180–197. https://doi.org/10.3846/bmee.2021.14653