Apparently, "Request for proposal", which is a private-sector equivalent of a tender process (speaking from my point of view of doing a lot of consulting projec

Apparently, "Request for proposal", which is a private-sector equivalent of a tender process (speaking from my point of view of doing a lot of consulting projects for the public sector). A tender process usually requires the agency to pick the quantitatively best bid (by some predetermined ranking scale, usually price or some price-quality combination), whereas an RFP has no such requirement and just lets the agency pick whatever seems subjectively/qualitatively the best choice.