Project «RFPs» (Request for Proposals) are most effectively prepared using pre-defined standards that provide content guidelines, along with established viability criteria to facilitate evaluation and promote informed resolution making. That is the best way to get things achieved and to fulfill all defined objectives. The key is consistency and built-in flexibility. Read on for more.
High Quality RFPs = High Quality Responses
With the intention to receive the highest quality responses, each RFP needs to be standardized to incorporate the next 5 (5) content parts:
The RFP Ought to Make Introductions. The RFP should provide primary introductions to the bidder regarding the company (who’s requesting the bid) and proposal scope.
The RFP Ought to Present the Need. The RFP ought to provide a quick project overview, stating the business case for the project and the should be filled.
The RFP Should State Requirements. The RFP should state the service and technical necessities and specs upon which the proposed solution have to be based. Each requirements statement should include a «definitions» part to ensure that all parties share a standard understanding of all business and technical needs.
The RFP Should Set Terms and Conditions. The RFP should state the expected phrases and conditions for options acceptance, together with delivery requirements, payment terms, and regulatory requirements.
The RFP Should Set Expectations. The RFP ought to describe the general RFP bidding process, together with response submission requirements, «profitable» analysis and selection criteria, process deadlines, and related technical procedures (response format, submission mechanisms and easy methods to submit questions and feedback).
RFP Content Guidelines and Evaluation Criteria
Once RFP responses are obtained, every response must be reviewed and evaluated to determine the chosen proposal. Using a pre-defined «scoring system», each component of the RFP can then be ranked in line with the «degree» to which requirements and priorities are met. To meet these goals, RFP analysis standards are organized into three (three) actionable elements: criteria, degree and priority.
Start with Pre-Defined RFP Analysis Criteria
Physical Necessities: To what degree does this proposal meet said physical answer requirements (for hardware and/or software)?
Service Requirements: To what degree does this proposal meet acknowledged service requirements?
Pricing: How does the proposed price evaluate to the (a) planned funds and to (b) other proposals?
Delivery & Installation: To what degree does this proposal meet stated delivery and/or installation necessities?
Warranties: To what degree does the proposal meet acknowledged warranty necessities?
Terms & Conditions: To what degree does the proposal meet stated contractual phrases and conditions?
Skills & Abilities: Does the bidder have the necessary skills and abilities to deliver this proposal?
References: Does the bidder have a proven track file in this type of project?
Intangibles:What different factors can be utilized to evaluate RFP responses and select the appropriate winner?
Move on to Response Evaluation Scoring
How will RFP’s be evaluated? Utilizing a standardized scoring system, «factors»may be assigned to every criteria part in line with the degree (extent) to which the proposed resolution meets stated requirements. This is illustrated under:
5 points: Totally Meets
4 points: Meets, with minor gaps (no compromise required)
3 factors: Meets, with moderate gaps (some compromise required)
2 points: Partially meets (significant gaps, compromise required)
1 level: Does not meet
Make Your Evaluation Priority Rankings
The third element of the scoring system is the «priority ranking». In the course of the RFP process, bidders will be asked to respond to multiple requirements. The degree to which each requirement could be met will range, even within a single proposal. On the other hand, since some requirements will carry more weight than others, wiggle room might exist. Priority rankings will enable you to to put necessities in perspective, helping you to determine the factors at which compromise is possible. For example… You’ve got obtained several RFP responses and you’ve got recognized the solution that greatest meets your technical requirements. Nonetheless, this vendor is unable to meet your delivery and installation timeframe. Are you able to compromise? Priority rankings can help you figure it out, as illustrated under:
High Priority: No Compromise Allowed
Moderate Priority:Moderate Compromise Allowed
Low Priority:Minimal Compromise Allowed
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