Procurement Management

 
Question 1.
1. In addition to cost, what factors should be considered in selecting a building contractor? What can go wrong if the lowest bid is selected and nothing else is considered? (Answer in your own words, maximum 70 words.)
Question 2.
2. What is the difference between an RFP and an RFQ? Give two specific examples where an RFQ could be used and two specific examples where it is more likely that the organization will go with an RFP. (Use examples NOT from your textbook.)

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