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what do these definitions mean in terms of project management A customer issued solicitation for contractor to supply specific products or services. It should contain

what do these definitions mean in terms of project management

A customer issued solicitation for contractor to supply specific products or services.

It should contain technical, management and cost sections describing in detail the contractors proposed solution for addressing the customers needs.

A formal document outlining specific requirements for the project or service so contractor can propose appropriate solution.

A contractor produced response to an RFP. Tends to have higher risk in a cost-reimbursement type contract.

Should be included in contracts to take into account issues unique to the project.

A mutually binding agreement that obligates the contractor to provide the special products or services and obligates the customer to pay for them.

A customer issued solicitation to attract interested contractors to develop and submit proposed solutions.

Tends to have higher risk in a fixed-price type contract.

A decision process conducted by contractors.

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