CompTIA Project+ Practice Test

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What should a project manager do to gather information on costs from a third party?

Issue a RFQ.
Issue an RFP.
Create a WBS.
Develop a SOW.

The correct answer is: Issue an RFP.

A project manager seeking to gather information on costs from a third party would issue a Request for Proposal (RFP). An RFP is a formal document that outlines the project requirements and invites suppliers or contractors to submit proposals, including their pricing and how they plan to meet the project needs. The use of an RFP allows the project manager to collect detailed information regarding both the technical capabilities and the cost estimations from various vendors, ensuring a competitive selection process. Additionally, it enables the project manager to assess different approaches and solutions for the project, beyond just the costs, leading to a well-informed decision. In contrast, a Request for Quotation (RFQ) is typically more focused on obtaining price quotes for specific goods or services and may not provide the comprehensive analysis of solutions that an RFP does. Creating a Work Breakdown Structure (WBS) is a useful tool for project planning but does not facilitate direct communication with third parties regarding costs. Similarly, developing a Scope of Work (SOW) outlines the deliverables and work required but does not actively solicit cost proposals. Therefore, issuing an RFP is the most effective way to gather comprehensive cost information from third-party suppliers.