PROC 5000 FINAL EXAM
The IFB procurement process is used when complete specifications or purchase descriptions are available. An IFB is most commonly used to obtain prices for specific goods and services. The IFB process must involve two or more bidders and the award is given to the lowest responsible bidder. Design specifications of goods and services to be procured under an IFB are not subject to negotiation. Bids that deviate from the specifications are rejected as non-responsive. The RFP is a solicitation that contains the terms, conditions, specifications and evaluation criteria of a proposed purchase of goods and/or services and requests a cost, technical, and/or business proposal from an interested prospective vendor or supplier. These goods and/or services are normally more complex or the specifications leave more room for negotiation than those for which the RFO process would be used. This process is also used when a two-step process is required (evaluate qualifications, then, in a separate step, consider price). The RFP process includes the opportunity to use a Best And Final Offer (BAFO) in which, after negotiations, the vendor is asked to make a final offer. An RFP indicates an intention to make an award.
The RFP process allows for the best value for each dollar spent. Because the RFP is a complex and lengthy process, the proposal must be given enough time to prepare a comprehensive and complete proposal. If the proposal will require an exceptional amount of data