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 informed decision making. That is the best way to get things achieved and to satisfy all defined objectives. The key is consistency and constructed-in flexibility. Read on for more.
High Quality RFPs = High Quality Responses
To be able to obtain the highest quality responses, every RFP needs to be standardized to incorporate the following 5 (5) content components:
The RFP Ought to Make Introductions. The RFP ought to provide primary introductions to the bidder in regards to the firm (who is requesting the bid) and proposal scope.
The RFP Ought to Current the Need. The RFP should provide a brief project overview, stating the enterprise case for the project and the must be filled.
The RFP Should State Requirements. The RFP should state the service and technical requirements and specs upon which the proposed answer must be based. Each necessities statement should embrace a “definitions” section to ensure that all parties share a common understanding of all business and technical needs.
The RFP Should Set Terms and Conditions. The RFP ought to state the expected terms and conditions for solutions acceptance, together with delivery requirements, payment phrases, and regulatory requirements.
The RFP Ought to Set Expectations. The RFP should describe the overall RFP bidding process, together with response submission necessities, “winning” analysis and selection criteria, process deadlines, and associated technical procedures (response format, submission mechanisms and how to submit questions and feedback).
RFP Content Guidelines and Evaluation Criteria
Once RFP responses are obtained, every response should be reviewed and evaluated to determine the chosen proposal. Using a pre-defined “scoring system”, each ingredient of the RFP can then be ranked in accordance with the “degree” to which requirements and priorities are met. To satisfy these goals, RFP evaluation standards are organized into three (three) actionable elements: criteria, degree and priority.
Start with Pre-Defined RFP Evaluation Criteria
Physical Necessities: To what degree does this proposal meet said physical solution requirements (for hardware and/or software)?
Service Necessities: To what degree does this proposal meet stated service requirements?
Pricing: How does the proposed value evaluate to the (a) deliberate funds and to (b) different proposals?
Delivery & Installation: To what degree does this proposal meet said delivery and/or installation necessities?
Warranties: To what degree does the proposal meet acknowledged warranty necessities?
Phrases & Conditions: To what degree does the proposal meet said 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 report in this type of project?
Intangibles:What other factors can be utilized to guage RFP responses and select the appropriate winner?
Move on to Response Evaluation Scoring
How will RFP’s be evaluated? Using a standardized scoring system, “factors”may be assigned to every criteria element in line with the degree (extent) to which the proposed answer meets acknowledged requirements. This is illustrated beneath:
5 points: Fully Meets
4 points: Meets, with minor gaps (no compromise required)
three points: Meets, with moderate gaps (some compromise required)
2 points: 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 be asked to answer multiple requirements. The degree to which each requirement might be met will fluctuate, even within a single proposal. On the other hand, since some necessities will carry more weight than others, wiggle room may exist. Priority rankings will assist you to place necessities in perspective, helping you to establish the factors at which compromise is possible. For example… You’ve got received several RFP responses and you’ve got recognized the answer that finest meets your technical requirements. Nonetheless, this vendor is unable to meet your delivery and installation timeframe. Can you compromise? Priority rankings may also help you work it out, as illustrated beneath:
High Priority: No Compromise Allowed
Moderate Priority:Moderate Compromise Allowed
Low Priority:Minimal Compromise Allowed
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