Request for Proposal

Request for Proposal

Request for Proposal Jonathan Poland

An RFP (request for proposal) is a document that asks suppliers to provide a detailed proposal for a supply contract. This could include materials, parts, components, services, and outsourcing partners. When issuing an RFP, it is often because the company wants to consider more than just price in awarding the contract. For example, a technology project might also consider factors such as technical capabilities, reputation, and the vendor’s ability to deliver. The following is a template that can be used as a starting point for an RFP bid.

Purpose

Describe what you want and why.

Background

Provide the context for the request.

Scope of Work

A list of requirements. This may include functional requirements and non-functional requirements. These may be presented in a variety of formats such as user stories or specifications. Each requirement is designed to be atomic, correct, verifiable, unambiguous, complete and consistent.

Performance Standards

State your expectations for supplier performance and how performance will be monitored and controlled.

Deliverables

State what the supplier will deliver.

Deliverable Quality

A list of acceptance criteria for deliverables.

Commercial Terms

State the proposed legal terms of the contract.

Payments, Incentives & Penalties

Give details of how payments, incentives and penalties will be assessed and paid.

RFP Requirements

A specification of what RFP responses must include. For example, it is common to request that suppliers describe in detail how they will achieve each requirement in the statement of work. Other requirements may include a detailed price quotation, company profile, references and elements of a solution design and a solution architecture. RFP requirements may link to other templates that must be filled out and attached to responses such as a template for software architecture.

Award Process

Describe how RFP responses will be evaluated and the contract awarded.

Schedule

Define a schedule including deadlines for anything you expect from suppliers.

Contacts

A list of contacts for the RFP process.

Learn More
Risk Management Process Jonathan Poland

Risk Management Process

Risk management is the practice of identifying and mitigating potential risks that could result in financial losses or other negative…

Telecommuting Jonathan Poland

Telecommuting

Telecommuting, also known as remote work or working from home, is a type of flexible work arrangement in which employees…

Best Practices Jonathan Poland

Best Practices

Best practices are generally accepted guidelines for achieving a specific goal. In a particular field or industry, best practices are…

Customer is Always Right Jonathan Poland

Customer is Always Right

The principle that “the customer is always right” is a widely used guideline in the business world to guide customer…

Customer Retention Jonathan Poland

Customer Retention

Customer retention is the practice of reducing the loss of customers to competitors. A high customer retention rate typically results…

Management Challenges Jonathan Poland

Management Challenges

Management challenges are obstacles, difficulties, or inefficiencies that make it difficult for managers to achieve their goals and objectives. These…

Business Process Reengineering Jonathan Poland

Business Process Reengineering

Business process reengineering, or BPR, involves examining and redesigning current business processes and workflows to achieve greater efficiency, cost-effectiveness, and…

Recruiting Jonathan Poland

Recruiting

Recruiting refers to the process of attracting, screening, and selecting qualified candidates for employment. This process is essential for any…

Innovation Principles Jonathan Poland

Innovation Principles

Innovation principles are guidelines that an organization adopts as a basis for innovation activities. They are typically considered foundational policy…

Content Database

Search over 1,000 posts on topics across
business, finance, and capital markets.

Labor Specialization Jonathan Poland

Labor Specialization

Specialization of labor involves dividing work into specific roles or tasks, with the goal of improving productivity, efficiency, quality, and…

Operations Planning Jonathan Poland

Operations Planning

Operations planning involves identifying and implementing strategies and tactics to optimize the core processes and practices that enable a business…

Overchoice Jonathan Poland

Overchoice

Overchoice, also known as the “paradox of choice,” is a phenomenon in which having too many options or choices can…

Call To Action Jonathan Poland

Call To Action

A call to action (CTA) is a phrase or statement that is used to encourage a specific response or action…

Thought Process Jonathan Poland

Thought Process

Thought is the mental process of perceiving, organizing, and interpreting information. It is the foundation of all higher cognitive functions,…

Venture Capital Jonathan Poland

Venture Capital

Venture capital is a type of private equity financing that is provided to early-stage, high-risk, high-potential companies. Venture capital is…

Magical Thinking Jonathan Poland

Magical Thinking

Introduction to Magical Thinking Magical thinking is a type of irrational belief that involves attributing causality to events that are…

Brand Authenticity Jonathan Poland

Brand Authenticity

Brand authenticity is the degree to which a brand accurately represents itself and its values to consumers. It is the…

In-Store Marketing Jonathan Poland

In-Store Marketing

In-store marketing refers to the use of physical retail locations, such as stores and showrooms, as a platform for marketing…