In order to aid project team to make a decision of an acquisition, they employ several approaches to gather additional information. The document that solicits a formal proposal from a potential vendor, developer, or service provider is called

Request For Proposal (RFP).

Explanation:

As the exercise indicates, in order to aid project team to make a decision of an acquisition, they employ several approaches to gather additional information. The document that solicits a formal proposal from a potential vendor, developer, or service provider is called Request For Proposal (RFP). This request, as it's name suggests, is a document that solicits a proposal that goes through the proper channels of an agency, company, institution, etc.

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