Certified Texas Contract Manager Practice Exam

What does the acronym RFO stand for in IT procurement?

1. Request For Offer

2. Request For Order

3. Request For Output

4. Request For Organization

The correct answer is: Request For Offer

The acronym RFO in the context of IT procurement stands for "Request For Offer." This terminology is commonly used in procurement processes where organizations invite vendors or service providers to submit their offers for goods or services needed. The RFO process typically follows a specific set of criteria and requirements outlined by the organization, allowing them to evaluate the submissions based on defined metrics such as pricing, technical capabilities, and delivery timelines. Understanding this term is essential for contract managers and procurement professionals as it directly relates to the competitive bidding environment, ensuring that the organization obtains the best value for its technology investments.