First Step to a Successful Project: A Complete RFQ

  Communications Management   Manufacturing   Schedule Management   Scheduling   Stakeholder Management   Strategy  

It’s safe to say that the project management skill set is most profoundly used in the realm of business. The completion of each project, whether profit or non-profit based, creates building blocks to allow further growth and opportunities. For business-related projects, the process usually starts with a Request for Quotation, a process that starts the communication chain between key stakeholders--most importantly amongst them the buyer and the seller.

A well-executed RFQ can mean all the difference since no matter what, businesses as income sources need to be awarded for a company to continue its operating cycle. For the purpose of general adaptation by readers of different industries, the content of this article will be constructed in a fashion where key points and criteria can be used in most situations.

Disclaimer: Since businesses are usually either about products or services, this article will be written from a product manufacturing perspective as the seller (or oftentimes the maker), whereas the buyer has the intention of procuring a product from the seller, with different weight on responsibilities from design to manufacturing. This article is meant for professional sharing of the author’s lessons learned. The content of the article will not mention any actual business entities that exist in the real world, nor their processes.

What is a RFQ? A …

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