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 choice making. That’s 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
As a way to obtain the highest quality responses, each RFP needs to be standardized to incorporate the following five (5) content material parts:
The RFP Should Make Introductions. The RFP should provide basic introductions to the bidder regarding the company (who’s requesting the bid) and proposal scope.
The RFP Ought to Current the Need. The RFP ought to provide a brief project overview, stating the business 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 specs upon which the proposed solution should be based. Every requirements statement ought to include a “definitions” section to make sure that all parties share a standard understanding of all business and technical needs.
The RFP Ought to Set Terms and Conditions. The RFP should state the expected phrases and conditions for solutions acceptance, together with delivery requirements, payment terms, and regulatory requirements.
The RFP Should Set Expectations. The RFP ought to describe the overall RFP bidding process, including response submission requirements, “successful” evaluation 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
Once RFP responses are acquired, every response should be reviewed and evaluated to find out the selected proposal. Utilizing a pre-defined “scoring system”, every ingredient of the RFP can then be ranked in keeping with the “degree” to which necessities and priorities are met. To meet these goals, RFP evaluation standards are organized into three (three) actionable elements: criteria, degree and priority.
Start with Pre-Defined RFP Analysis Criteria
Physical Requirements: To what degree does this proposal meet said physical solution requirements (for hardware and/or software)?
Service Requirements: To what degree does this proposal meet stated service requirements?
Pricing: How does the proposed worth evaluate to the (a) planned funds and to (b) other proposals?
Delivery & Set up: To what degree does this proposal meet said delivery and/or set up requirements?
Warranties: To what degree does the proposal meet said warranty requirements?
Phrases & Conditions: To what degree does the proposal meet acknowledged contractual terms and conditions?
Skills & Abilities: Does the bidder have the required skills and abilities to deliver this proposal?
References: Does the bidder have a proven track record in this type of project?
Intangibles:What other factors can be utilized to guage RFP responses and choose the appropriate winner?
Move on to Response Analysis Scoring
How will RFP’s be evaluated? Utilizing a standardized scoring system, “points”can be assigned to each criteria element in line with the degree (extent) to which the proposed solution meets said requirements. This is illustrated below:
5 factors: Fully Meets
4 points: Meets, with minor gaps (no compromise required)
3 points: Meets, with moderate gaps (some compromise required)
2 points: Partially meets (significant gaps, compromise required)
1 point: Does not meet
Make Your Evaluation Priority Rankings
The third ingredient of the scoring system is the “priority ranking”. In the middle of the RFP process, bidders will be asked to respond to multiple requirements. The degree to which every requirement can be met will differ, even within a single proposal. Then again, since some requirements will carry more weight than others, wiggle room might exist. Priority rankings will allow you to to put requirements in perspective, helping you to determine the factors at which compromise is possible. For example… You’ve obtained several RFP responses and you’ve got recognized the solution that finest meets your technical requirements. Nevertheless, this vendor is unable to satisfy your delivery and set up timeframe. Can you compromise? Priority rankings may also help you figure it out, as illustrated below:
High Priority: No Compromise Allowed
Moderate Priority:Moderate Compromise Allowed
Low Priority:Minimal Compromise Allowed
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