Requests for quotation are similar to requests for proposals in that they are a mechanism that is utilized throughout and across many professional industries, and are not restricted in utilization to that of project management. In many industries, requests for quotations are solicited by buyers or purchasers of long term and or elaborate projects or products to sellers or purveyors of such in the attempt to determine what the different ideas and strategies each of these purveyors may have. Typical lint he area of project management, the request for quotation functions very similarly to a request for an estimate in that the request for proposal serves as a type of procurement form that is used for the purpose of requesting or soliciting quotations or estimates from prospective purveyors or sellers of a series of products and or services. While this definition is very broad, in some the definition may in fact be much narrower, depending on the particular application area that it is being utilized in reference to.

This term is defined in the 3rd and the 4th edition of the PMBOK.

Related Entries:

 

  • Change Request A change request can de defined as any request that is submitted to whatever change control board or decision making...
    •  
  • Request for Information Requests for information exist in many areas of our society, and typically refer to the seeking out of information by...
    •  
  • Request for Proposal Requests for proposals are similar to requests for information in that they are a mechanism that is utilized throughout and...
    •  
  • Request Seller Responses During the process of project management, the project management team and or the project management team leader may seek out...
    •  
  • Approved Change Request [Output/input] An approved change request refers to a change request that has been submitted by the requestors, has been reviewed by...