Lets split the requirements:
a) Purchase Requisition is In Process, and needs to be in Deferred State, until an RFQ is completed, and quotation short listed (In short, Save Award function is done in Sourcing)
b) The Price from the Quotation Saved, must be copied/ over write existing price in requisition.
c) Requisition should now be progressed, and new approval hierarchy must trigger based on revised PR value.
This looks little unrealistic to me. When completing the award process, the actual price is what is used to create the PO, its immaterial what is the price in requisition, so why have it in first place, and complicate the entire system?
a) Can the Negotiated Price be captured as a part of a DFF in requisition line level?
b) Is Encumbrance implemented at PR level?