You are the business analyst for your organization. You've believed that your solution can actually be purchased from outside vendor rather than trying to create the solution internally. You decide to ask the vendor to provide a fee for their services based on the statement of work. What document will you give the vendor along with the statement of work?
Correct Answer: A
Explanation
A request for quote (RFQ) is a document that invites vendors to provide a price quote for their products or services based on a detailed statement of work (SOW). The SOW describes the scope, specifications, deliverables, and acceptance criteria of the solution that the organization needs. The RFQ allows the organization to compare different vendors based on their prices and capabilities, and to select the best one for the project.
References: The information is verified as per the CCBA Learning documents and resources, which outline the standards and practices for business analysis. You can find more information about the RFQ and the SOW in the CCBA guide1 and the BABOK Guide2 available through the IIBA website and bookstore3. You can also find some useful resources and sample questions from other sources.