WHAT AN RFP ASK FOR PROPOSAL?

My apologies to all my mavens for the delay in writing this piece This section basically talks about what a request for proposal (RFP) should chiefly include and maximize its selling criteria . Here are a few aspects which are considered to be important while submitting an RFP.


                                   WHAT AN RFP ASK FOR PROPOSAL?

• A proposal includes covering letter, executive summary, technical bid and cost bid (Many times the proposal will also have more information about the vendors, their management achievements and highlights of their business.

• Sometimes Vendors ask for financial details, like balance sheet of 3 years, the qualifications of vendor team members, so these additional details can be included as well.

• An RFP may ask  a list of previous clients with contact information and correct details should be given as there is a greater possibility of the references being double checked.

• An RFP may ask for a description of the proposed development process or the complete execution process of the project. This varies from companies to comapnies

• The RFP will definitely ask for delivery methods, where and how the delivery would be made? How it will be packaged? How it will  be packaged? Would it be insured? And so on. 

                                          PROPOSAL RATING SCHEME

Most RFPs disclose the rating scheme for the proposals. Even before the vendor submits the proposal they would like to inform the vendor on how the proposal would be rated. This rating scheme helps in maintaining transparency in decision making. It will also serve as guideline for vendors so that they can analyze the proposal before submitting it. This enables them to improvise and deliver the maximum possible value.

The rating scheme allocates points to the following:

1) Technical solution
2) The experience
3) Vendor's ability to find the project and the commercial details of cost bid and so on

The RFP rating scheme sets a  "Total overall" points required for the vendor's proposal to be considered.

The total overall points that is below certain expected points will not be considered.