I’m hiring on pretty short notice and If I know exactly what I need, RFQ makes sense. But I don’t understand when RFP is safer. Are there any rules/structure for deciding this?
Topic summary
A business owner is seeking guidance on choosing between an RFQ (Request for Quote) and RFP (Request for Proposal) for a hiring situation on short notice.
Current situation:
- They understand RFQ is appropriate when requirements are clearly defined
- Uncertain about when RFP is the safer or better option
Key question:
Looking for rules, frameworks, or structured criteria to help decide between these two procurement approaches.
The discussion remains open with no responses yet providing the requested guidance on decision-making criteria.
Yes, there’s a simple rule:
- Use an RFQ (Request for Quotation) when you know exactly what you need. You are just comparing price. It’s like ordering 100 printed t-shirts.
- Use an RFP (Request for Proposal) when you know your problem or goal, but you don’t know the best solution. You are comparing the vendor’s strategy and expertise, not just their price.
An RFP is “safer” when the how is critical. If you use an RFQ for a complex project, you’ll get the cheapest solution, but it might be the wrong one. An RFP is safer because it lets you choose the best approach first.
Given your short notice, be aware that RFQs are fast, while RFPs are typically slow.
Hope this helps!