What is a source sought notice?

“The Sources Sought notice is a synopsis posted by a government agency that states they are seeking possible sources for a project. It is not a solicitation for work, nor is it a request for proposal.

What does Sources Sought mean in government contracts?

A sources sought (often capitalized as Sources Sought) notice is used by agencies of the government of the United States to solicit interest in a project under consideration by that agency. They are not requests for proposals or invitations to bid; sources sought come earlier in the procurement process.

What does Sources Sought mean on FBO?

A sources sought is the government’s way to find out if there are capable small businesses that can fulfill their requirements. They are usually posted on Federal Business Opportunities (FBO.gov) early in the procurement as a form of market research.

How do you find a source sought?

The label “Sources Sought” may be seen on many contract opportunities posted on FedBizOpps (FBO), the place federal agencies advertise their upcoming contracts. (You can search for Sources Sought using the “Advanced Search” link on the FBO home page.)

How long does a Sources Sought notice need to be posted?

Sources Sought Notices are posted by a contracts office on one or more of the Government’s solicitation web sites prior to posting a solicitation. You will typically have 10 days to respond to a Sources Sought Notice.

What is a government request for information?

An RFI, otherwise known as a Request for Information, is a process used by government agencies to gauge industry interest in a government solicitation, as well as to understand what products or services exist to solve a problem.

Why do a Sources Sought?

The purpose of a Sources Sought is to determine if a small business can perform the work required while a Request for Information (RFI) purpose is to collect written information about the capabilities of various suppliers.

Who is responsible for performing market research?

Who is responsible for conducting market research? Typically, the requiring program office staff is respon- sible for conducting market research. This, of course, generally means the contracting officer’s representative (COR).

What can a Request for Information RFI be used for?

What are RFIs commonly used for? An RFI can be issued for literally any kind of situation where clarification or additional information is required. It can be used during all phases of a project (design, tender/bidding, construction).

What is in a request for information?

An RFI (request for information) is a formal process for gathering information from potential suppliers of a good or service. RFIs are intended to be written by customers and sent to potential suppliers. The goal of using an RFI is to gather information on a market in a formal, structured way.

What types of information are commonly collected as part of market research?

A well executed market research process will provide solid information on: existing products, capable small business sources, competitive market forces, commercial practices, varying levels of product performance and quality and successful acquisition practices of other organizations.