Reference signal receive power (RSRP):
RSRP is the most basic of the UE physical layer measurements and is the linear average (in watts) of the downlink reference signals (RS) across the channel bandwidth. Since the RS exist only for one symbol at a time, the measurement is made only on those resource elements (RE) that contain cell-specific RS. It is not mandated for the UE to measure every RS symbol on the relevant subcarriers. Instead, accuracy requirements have to be met. There are requirements for both absolute and relative RSRP. The absolute requirements range from ±6 to ±11 dB depending on the noise level and environmental conditions. Measuring the difference in RSRP between two cells on the same frequency (intra-frequency measurement) is a more accurate operation for which the requirements vary from ±2 to ±3 dB. The requirements widen again to ±6 dB when the cells are on different frequencies (inter-frequency measurement).
Knowledge of absolute RSRP provides the UE with essential information about the strength of cells from which path loss can be calculated and used in the algorithms for determining the optimum power settings for operating the network. Reference signal receive power is used both in idle and connected states. The relative RSRP is used as a parameter in multi-cell scenarios.
Reference signal receive quality (RSRQ):
Although RSRP is an important measure, on its own it gives no indication of signal quality. RSRQ provides this measure and is defined as the ratio of RSRP to the E-UTRA carrier received signal strength indicator (RSSI). The RSSI parameter represents the entire received power including the wanted power from the serving cell as well as all cochannel power and other sources of noise. Measuring RSRQ becomes particularly important near the cell edge when decisions need to be made, regardless of absolute RSRP, to perform a handover to the next cell. Reference signal receive quality is used only during connected states. Intra- and inter-frequency absolute RSRQ accuracy varies from ±2.5 to ±4 dB, which is similar to the interfrequency relative RSRQ accuracy of ±3 to ±4 dB.
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http://tech.queryhome.com/43010/rsrp-and-rsrq-measurement-in-lte