The date for sending the final RFP to vendors is considered a(n) milestone because it signals that all RFP preparation work is complete.
An RFQ is frequently distributed following an RFP, although it can also be distributed independently for products and services that are especially standardized.
After final approval, you can use an RFP award notification letter to inform the winning vendor of your decision and start negotiating the terms of the contract.
Note that An organization, typically a government agency or large corporation, posts a request for proposals (RFP) in order to receive a formal bid from potential vendors for the desired IT solution.
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