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
Business Models Jonathan Poland

Business Models

Business models define how a company creates, delivers, and captures value. There are numerous business models, each tailored to specific…

Pull Strategy Jonathan Poland

Pull Strategy

A pull strategy is a marketing approach in which a company creates demand for its product or service by promoting…

Brand Image Jonathan Poland

Brand Image

Brand image is the overall perception that consumers and the public have of a brand. It is the way that…

Regulatory Risk Jonathan Poland

Regulatory Risk

Regulatory risk refers to the risk that a company will face regulatory actions or penalties as a result of non-compliance…

Perfect Competition Jonathan Poland

Perfect Competition

Perfect competition is a theoretical market structure in which a large number of buyers and sellers participate and no single…

Aftermarket Jonathan Poland

Aftermarket

The aftermarket refers to the market for products and services that are used to upgrade, customize, repair, or maintain durable…

What If Analysis Jonathan Poland

What If Analysis

What-if analysis is the process of considering and evaluating hypothetical outcomes. It is a common technique used in early stage…

Daily Goals Jonathan Poland

Daily Goals

Daily goals are targets that you set for yourself to achieve on a particular day. These can include habits that…

What is a Trade Show? Jonathan Poland

What is a Trade Show?

A trade show is an industry-specific event where businesses in a particular sector showcase their products, services, and innovations to…

Content Database

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

Anchoring Jonathan Poland

Anchoring

Anchoring is a cognitive bias that occurs when people rely too heavily on an initial piece of information, known as…

Artificial Intelligence Jonathan Poland

Artificial Intelligence

Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think and act like…

Legal Risk Jonathan Poland

Legal Risk

Legal risk is the risk of financial loss or other negative consequences that may arise from legal action or non-compliance…

Camping Strategy Jonathan Poland

Camping Strategy

Camping strategy is the practice of a using a geographical location as a competitive advantage. It has several common applications:…

Information Security Risk Jonathan Poland

Information Security Risk

Information security risk refers to the potential for unauthorized access, disruption, modification, or destruction of information. This can have serious…

Compliance Risk Jonathan Poland

Compliance Risk

Compliance risk refers to the risk that an organization may face as a result of not complying with laws, regulations,…

Economic Change Jonathan Poland

Economic Change

Economic change refers to shifts in economic conditions, such as changes in GDP, employment rates, and prices. These shifts can…

Quality Metrics Jonathan Poland

Quality Metrics

Quality metrics are measurements that are used to evaluate the value and performance of products, services, and processes. These metrics…

Over-positioning Jonathan Poland

Over-positioning

Over-positioning refers to the practice of positioning a brand in a way that is too narrow or limited, potentially limiting…