Project “RFPs” (Request for Proposals) are most successfully prepared using pre-defined standards that provide content guidelines, along with established viability criteria to facilitate analysis and promote knowledgeable resolution making. That’s the best way to get things accomplished and to meet all defined objectives. The key is consistency and built-in flexibility. Read on for more.
High Quality RFPs = High Quality Responses
So as to receive the highest quality responses, each RFP should be standardized to incorporate the following five (5) content material components:
The RFP Ought to Make Introductions. The RFP ought to provide primary introductions to the bidder in regards to the company (who’s requesting the bid) and proposal scope.
The RFP Ought to Current the Need. The RFP should provide a short project overview, stating the enterprise case for the project and the need to be filled.
The RFP Ought to State Requirements. The RFP should state the service and technical necessities and specifications upon which the proposed solution should be based. Every requirements assertion ought to embrace a “definitions” section to ensure that all parties share a common understanding of all enterprise and technical needs.
The RFP Should Set Phrases and Conditions. The RFP ought to state the anticipated phrases and conditions for options acceptance, including delivery requirements, payment terms, and regulatory requirements.
The RFP Ought to Set Expectations. The RFP ought to describe the overall RFP bidding process, together with response submission requirements, “successful” analysis and choice criteria, process deadlines, and related technical procedures (response format, submission mechanisms and how to submit questions and feedback).
RFP Content Guidelines and Analysis Criteria
As soon as RFP responses are received, each 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 based on the “degree” to which necessities and priorities are met. To meet these goals, RFP evaluation standards are organized into three (3) actionable parts: criteria, degree and priority.
Start with Pre-Defined RFP Evaluation Criteria
Physical Necessities: To what degree does this proposal meet stated physical resolution necessities (for hardware and/or software)?
Service Necessities: To what degree does this proposal meet stated service requirements?
Pricing: How does the proposed price examine to the (a) deliberate price range and to (b) different proposals?
Delivery & Installation: To what degree does this proposal meet said delivery and/or installation requirements?
Warranties: To what degree does the proposal meet stated warranty requirements?
Phrases & Conditions: To what degree does the proposal meet acknowledged contractual terms and conditions?
Skills & Abilities: Does the bidder have the mandatory 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 judge RFP responses and choose the appropriate winner?
Move on to Response Evaluation Scoring
How will RFP’s be evaluated? Utilizing a standardized scoring system, “points”can be assigned to every criteria part according to the degree (extent) to which the proposed solution meets acknowledged requirements. This is illustrated below:
5 factors: Absolutely Meets
4 factors: Meets, with minor gaps (no compromise required)
3 points: Meets, with moderate gaps (some compromise required)
2 factors: Partially meets (significant gaps, compromise required)
1 point: Doesn’t meet
Make Your Evaluation Priority Rankings
The third ingredient of the scoring system is the “priority ranking”. In the course of the RFP process, bidders will probably be asked to reply to multiple requirements. The degree to which every requirement might be met will fluctuate, even within a single proposal. However, since some requirements will carry more weight than others, wiggle room may exist. Priority rankings will provide help to to place necessities in perspective, helping you to establish the points at which compromise is possible. For example… You will have received a number of RFP responses and you have identified the solution that best meets your technical requirements. Nevertheless, this vendor is unable to fulfill your delivery and installation timeframe. Can you compromise? Priority rankings may 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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