Project “RFPs” (Request for Proposals) are most successfully prepared using pre-defined standards that provide content guidelines, alongside with established viability criteria to facilitate evaluation and promote knowledgeable resolution making. That’s the only way to get things performed 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 a view to obtain the highest quality responses, each RFP must be standardized to incorporate the next 5 (5) content parts:
The RFP Ought to Make Introductions. The RFP should provide fundamental introductions to the bidder concerning the firm (who is requesting the bid) and proposal scope.
The RFP Should Current the Need. The RFP should provide a brief project overview, stating the enterprise case for the project and the need to be filled.
The RFP Should State Requirements. The RFP ought to state the service and technical requirements and specs upon which the proposed resolution must be based. Every requirements assertion should include a “definitions” section to make sure that all parties share a common understanding of all business and technical needs.
The RFP Ought to Set Terms and Conditions. The RFP should state the expected terms and conditions for options acceptance, including delivery necessities, payment phrases, and regulatory requirements.
The RFP Ought to Set Expectations. The RFP should describe the overall RFP bidding process, including response submission requirements, “winning” analysis and selection criteria, process deadlines, and related technical procedures (response format, submission mechanisms and the right way to submit questions and feedback).
RFP Content Guidelines and Evaluation Criteria
As soon as RFP responses are acquired, each response should be reviewed and evaluated to determine the chosen proposal. Utilizing a pre-defined “scoring system”, every component of the RFP can then be ranked based on the “degree” to which necessities and priorities are met. To meet these goals, RFP evaluation standards are organized into three (3) actionable elements: criteria, degree and priority.
Start with Pre-Defined RFP Evaluation Criteria
Physical Necessities: To what degree does this proposal meet acknowledged physical solution requirements (for hardware and/or software)?
Service Necessities: To what degree does this proposal meet acknowledged service necessities?
Pricing: How does the proposed price examine to the (a) planned price range and to (b) other proposals?
Delivery & Set up: To what degree does this proposal meet acknowledged delivery and/or set up necessities?
Warranties: To what degree does the proposal meet acknowledged warranty necessities?
Phrases & 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 record 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 Analysis Scoring
How will RFP’s be evaluated? Using a standardized scoring system, “factors”could be assigned to each criteria element in line with the degree (extent) to which the proposed answer meets acknowledged requirements. This is illustrated beneath:
5 points: Totally Meets
four factors: Meets, with minor gaps (no compromise required)
three factors: Meets, with moderate gaps (some compromise required)
2 factors: Partially meets (significant gaps, compromise required)
1 level: Doesn’t meet
Make Your Evaluation Priority Rankings
The third component of the scoring system is the “priority ranking”. In the midst of the RFP process, bidders might be asked to reply to multiple requirements. The degree to which every requirement may be met will fluctuate, even within a single proposal. Alternatively, since some requirements will carry more weight than others, wiggle room could exist. Priority rankings will aid you to place necessities in perspective, helping you to identify the points at which compromise is possible. For example… You’ve got obtained a number of RFP responses and you’ve got identified the solution that finest meets your technical requirements. Nevertheless, this vendor is unable to fulfill your delivery and installation timeframe. Can you compromise? Priority rankings might help you work it out, as illustrated under:
High Priority: No Compromise Allowed
Moderate Priority:Moderate Compromise Allowed
Low Priority:Minimal Compromise Allowed
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