CPPB Domain II: Sourcing with complete solutions |Latest 2024/2025

CPPB Domain II: Sourcing with complete solutions. Scope of Work ️ Typically developed by procurement to be included in the solicitation to procure services or other more complex combinations of products and services. Sometimes called "Performance Specification" PWS ️ Performance Work Statement SOO ️ Statement of Objectives Statement of Work ️ The proposed solution by the successful proposer responding to the Scope of Work appearing in the solicitation. Benchmarking ️ The act of measuring a process, service or product against the characteristics of the recognized leaders in the given area of review IFB ️ Invitation for Bid, also known as competitive sealed bidding. Preferred method for acquiring goods, some services and some construction for public use. Award is made to the lowest responsive and responsible bidder. RFQ ️ Request for quotation. Also known as informal competitive bidding. Generally used for small orders under a certain dollar threshold. RFP ️ Request for Proposals. Allows the reviewer or evaluator to consider factors other than price ITN ️ Invitation to Negotiate. Used when the procurement authority deems it is in their best interest to negotiate with offerors to achieve "best value