Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 1 00:00:01,225 --> 00:00:03,108 When you do decide to buy something, 2 2 00:00:03,108 --> 00:00:06,076 you start the procurement process. 3 3 00:00:06,076 --> 00:00:08,375 There are three types of procurement documents 4 4 00:00:08,375 --> 00:00:11,230 you might use during planning. 5 5 00:00:11,230 --> 00:00:13,326 The simplest kind of procurement uses 6 6 00:00:13,326 --> 00:00:16,334 a Request for Quote, or RFQ. 7 7 00:00:16,334 --> 00:00:20,291 You prepare an RFQ when you need something straightforward. 8 8 00:00:20,291 --> 00:00:24,001 Chairs, computers, service rates, et cetera. 9 9 00:00:24,001 --> 00:00:25,847 You provide a specification, 10 10 00:00:25,847 --> 00:00:28,618 a list of features the product or service must meet, 11 11 00:00:28,618 --> 00:00:32,541 and request a price from several vendors. 12 12 00:00:32,541 --> 00:00:33,764 Then usually you choose 13 13 00:00:33,764 --> 00:00:37,764 the least expensive option that meets the specs. 14 14 00:00:38,858 --> 00:00:40,495 If what you need is complicated, 15 15 00:00:40,495 --> 00:00:42,164 and still not well defined 16 16 00:00:42,164 --> 00:00:46,982 you can send out a Request for Information, or RFI. 17 17 00:00:46,982 --> 00:00:49,979 As the name implies, an RFI is used when you are looking 18 18 00:00:49,979 --> 00:00:54,482 for industry input on what is currently available. 19 19 00:00:54,482 --> 00:00:56,869 You describe the need and requirements 20 20 00:00:56,869 --> 00:00:59,887 as best as you currently understand them, 21 21 00:00:59,887 --> 00:01:01,554 then industry provides information 22 22 00:01:01,554 --> 00:01:03,790 on how their company can help 23 23 00:01:03,790 --> 00:01:05,315 in the hope that their input will be included 24 24 00:01:05,315 --> 00:01:09,878 in the requirements for any future procurement. 25 25 00:01:09,878 --> 00:01:14,878 And then you have the full-up Request For Proposal, or RFP. 26 26 00:01:15,240 --> 00:01:17,697 An RFP is used when you need something 27 27 00:01:17,697 --> 00:01:21,232 that doesn't yet exist and will need to be developed. 28 28 00:01:21,232 --> 00:01:23,325 And so, requires companies to send you 29 29 00:01:23,325 --> 00:01:26,075 a project plan as their proposal. 30 30 00:01:26,942 --> 00:01:29,720 The RFP includes a full set of requirements 31 31 00:01:29,720 --> 00:01:32,003 for whatever you need. 32 32 00:01:32,003 --> 00:01:34,894 It often also includes a Statement of Work, or SOW, 33 33 00:01:34,894 --> 00:01:37,510 describing how you will work together, 34 34 00:01:37,510 --> 00:01:40,264 identifying mutual points of contact, required reviews, 35 35 00:01:40,264 --> 00:01:44,331 mandatory processes, and related information. 36 36 00:01:44,331 --> 00:01:47,355 And for competitive bids, the RFP should also include 37 37 00:01:47,355 --> 00:01:51,611 an evaluation approach for how the contract will be awarded. 38 38 00:01:51,611 --> 00:01:54,148 For example, least cost or best value, 39 39 00:01:54,148 --> 00:01:57,652 which we'll cover in a couple sections from now. 3460