project management glossary
invitation for bid (ifb)
A solicitation for offers under sealed bidding.
Similar to a request for proposal, but often with a more specific
application area.
invitation to bid
The invitation issued to prospective suppliers to submit a bid/quotation/
proposal for the supply of goods/ services.
invoice
A contractorÍs bill or written request for payment under the contract for
supplies delivered or services performed.
A document issued by a contractor as a request for payment for work
performed in accordance with the terms of its contract. The invoice should be
checked and coded by the project accountant before being sent to the project
manager for approval. An invoice is the document initiating a progress
payment.
invoices to cost accounts
The allocation or distribution of the amounts shown on an invoice to their
respective project cost code (WBS Code of Accounts.)
