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:''For other meanings, see RFP (disambiguation). For information about Wikipedia proposals, see .''
A 'Request for Proposal' (referred to as 'RFP') is an invitation for suppliers, through a bidding process, to submit a proposal on a specific product or service.
An RFP typically involves more than the price. Other requested information may include basic corporate information and history, financial information (can the company deliver without risk of bankruptcy), technical capability (used on major procurements of services, where the item has not previously been made or where the requirement could be met by varying technical means), product information such as stock availability and estimated completion period, and customer references that can be checked to determine a company's suitability.
In the military, an RFP is often raised to fulfil an Operational Requirement (OR), after which the military procurement authority will normally issue a detailed Technical Specification against which tenders will be made by potential contractors. In the civilian use, an RFP is usually part of a complex sales process, also known as enterprise sales.
RFPs often include specifications of the item, project or service for which a proposal is requested. The more detailed the specifications, the better the chances that the proposal provided will be accurate. Generally RFPs are sent to an approved supplier or vendor list.
The bidders return a proposal by a set date and time. Late proposals may or may not be considered, depending on the terms of the initial RFP. The proposals are used to evaluate the suitability as a supplier, vendor, or institutional partner. Discussions may be held on the proposals (often to clarify technical capabilities or to note errors in a proposal). In some instances, all or only selected bidders may be invited to participate in subsequent bids, or may be asked to submit their best technical and financial proposal, commonly referred to as a 'Best and Final Offer (BAFO)'.
The 'Request for Quotation (RFQ)' is used where discussions aren't required with bidders (mainly when the specifications of a product or service are already known), and price is the main or only factor in selecting the successful bidder. RFQ may also be used as a step prior to going to a full-blown RFP to determine general price ranges. In this scenario, products, services or suppliers may be selected from the RFQ results to bring in to further research in order to write a more fully fleshed out RFP.
RFP is sometimes used for a 'Request For Pricing'.
A 'Request for Information (RFI)' is a proposal requested from a potential seller or a service provider to determine what products and services are potentially available in the marketplace to meet a buyer's needs and to know the capability of a seller in terms of offerings and strengths of the seller. RFIs are commonly used on major procurements, where a requirement could potentially be met through several alternate means. An RFI, however, is not an invitation to bid, is not binding on either the buyer or sellers, and may or may not lead to an RFP or (RFQ).
★ Complex sales
★ Contract A
★ Proposal
★ Reverse auction
★ Tenders
★ ERFx
★ Strategic sourcing
★ Outsourcing
★ Association of Proposal Management Professionals
★ Strategic Sourcing |Europe - General information, best practices, tools and case studies about RFx and auction
★ [1] - Article about how to manage RFPs]
★ Beyond The Template: Writing an RFP That Works - An expert talks about crafting good RFPs
★ RFPs for internet projects - Some RFPs to use for sourcing suppliers to improve your website
★ RFP Database - Public site for sharing RFPs and finding useful samples
★ RFP Database Tool - Free Public site for creating and responding to RFPs
A 'Request for Proposal' (referred to as 'RFP') is an invitation for suppliers, through a bidding process, to submit a proposal on a specific product or service.
An RFP typically involves more than the price. Other requested information may include basic corporate information and history, financial information (can the company deliver without risk of bankruptcy), technical capability (used on major procurements of services, where the item has not previously been made or where the requirement could be met by varying technical means), product information such as stock availability and estimated completion period, and customer references that can be checked to determine a company's suitability.
In the military, an RFP is often raised to fulfil an Operational Requirement (OR), after which the military procurement authority will normally issue a detailed Technical Specification against which tenders will be made by potential contractors. In the civilian use, an RFP is usually part of a complex sales process, also known as enterprise sales.
RFPs often include specifications of the item, project or service for which a proposal is requested. The more detailed the specifications, the better the chances that the proposal provided will be accurate. Generally RFPs are sent to an approved supplier or vendor list.
The bidders return a proposal by a set date and time. Late proposals may or may not be considered, depending on the terms of the initial RFP. The proposals are used to evaluate the suitability as a supplier, vendor, or institutional partner. Discussions may be held on the proposals (often to clarify technical capabilities or to note errors in a proposal). In some instances, all or only selected bidders may be invited to participate in subsequent bids, or may be asked to submit their best technical and financial proposal, commonly referred to as a 'Best and Final Offer (BAFO)'.
| Contents |
| RFP Variations |
| See also |
| External links |
RFP Variations
The 'Request for Quotation (RFQ)' is used where discussions aren't required with bidders (mainly when the specifications of a product or service are already known), and price is the main or only factor in selecting the successful bidder. RFQ may also be used as a step prior to going to a full-blown RFP to determine general price ranges. In this scenario, products, services or suppliers may be selected from the RFQ results to bring in to further research in order to write a more fully fleshed out RFP.
RFP is sometimes used for a 'Request For Pricing'.
A 'Request for Information (RFI)' is a proposal requested from a potential seller or a service provider to determine what products and services are potentially available in the marketplace to meet a buyer's needs and to know the capability of a seller in terms of offerings and strengths of the seller. RFIs are commonly used on major procurements, where a requirement could potentially be met through several alternate means. An RFI, however, is not an invitation to bid, is not binding on either the buyer or sellers, and may or may not lead to an RFP or (RFQ).
See also
★ Complex sales
★ Contract A
★ Proposal
★ Reverse auction
★ Tenders
★ ERFx
★ Strategic sourcing
★ Outsourcing
External links
★ Association of Proposal Management Professionals
★ Strategic Sourcing |Europe - General information, best practices, tools and case studies about RFx and auction
★ [1] - Article about how to manage RFPs]
★ Beyond The Template: Writing an RFP That Works - An expert talks about crafting good RFPs
★ RFPs for internet projects - Some RFPs to use for sourcing suppliers to improve your website
★ RFP Database - Public site for sharing RFPs and finding useful samples
★ RFP Database Tool - Free Public site for creating and responding to RFPs
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