What is the difference between a Request for Proposal (RFP) and a Request for Information (RFI)?

• A. RFP gathers information to inform later decisions; RFI solicits proposals with pricing
• B. RFP requires a bid/price; RFI gathers information to inform later decisions
• C. RFP seeks proposals with solutions and pricing; RFI gathers information to inform later decisions; RFP requires a bid/price.
• D. Both RFP and RFI are interchangeable

Answer: (C)

Understanding the difference between an RFI and an RFP hinges on what each instrument asks for and when it's used. An RFI is used to gather information about what’s available in the market, learning about capabilities, approaches, and potential vendors without requesting formal bids or pricing. An RFP comes later when you need concrete proposals that describe how a vendor would meet your requirements, including a detailed solution and pricing, which often leads to a bid and vendor selection. So the best description is that the RFP seeks proposals with solutions and pricing, the RFI gathers information to inform later decisions, and the RFP requires a bid/price. This reflects how RFIs help shape scope and options, while RFPs drive formal proposals and pricing for decision-making.