Project success starts with partnerships. Start by asking bids for project materials or services to find strong partners. Request for proposal are used for this.
An RFP helps you find the best project supplier by gathering detailed information. We produced a simple, effective RFP template for first-time RFP creators. This template for the RFP and selection procedures lets you easily construct requests with specifications and guidelines for bidders to submit accurate pricing and timing estimates. Templates save time and simplify RFP creation.
How to use this document
Use the RFP template:
- Click here for the template. Save to Google Drive or your computer.
- Add essential sections or details to your proposal request as instructed. The RFP template includes project brief, scope, budget, challenges, vendor evaluation criteria, and contact information. It’s easy to customise for your project.
What’s RFP?
An RFP is an organisational document used to elicit bids from different vendors or suppliers for a project. It includes project goals, requirements, timeframe, budget, and other factors suppliers should consider while bidding. RFPs assist companies choose the best, most affordable vendor for their project.
Through a request for proposal, organisations can compare vendor bids and choose the best value. It allows organisations to negotiate terms and conditions and holds vendors accountable to expectations. An RFP helps organisations make educated decisions and get competitive price and conditions on products and services.
How does an RFP vary from an RFI/RFQ?
RFPs, RFIs, and RFQs have different functions but are often used interchangeably. Which document is best dependent on the feedback needed and the request.
- An RFP requests vendors to bid on a product or service. A proposal request usually suggests the customer wants solutions, not just a price.
- A request for information (RFI) is used to ask vendors about their solution-building capabilities.
- An RFQ requests a price from a supplier for goods or services. Buyer knows what to buy; only needs vendor pricing.
Five stages to a simple RFP
Building a simple RFP takes a few crucial stages to gather project and need information. Next time a project needs a new supplier, follow these steps:
1. Summarise crucial project data
The first portion of an RFP describes the project goals, timetable, deliverables, budget, and other requirements. This information helps potential vendors understand the project’s scope and assess if they can meet RFP requirements. This section should include the project name, firm name, contact phone number, and email address.
2. Provide company and project info
Ideally, this section should provide a brief organisation history and mission. Background information contextualises proposal requests and helps vendors provide focused, thorough responses. Explaining the project’s goal and how the chosen supplier will assist the organisation achieve its goals is also helpful.
3. Define project scope and timeline
The project scope and proposal schedule detail project implementation. It specifies completion dates and service dependencies.
A construction company submitting an RFP for environmental site services should include the service’s execution date within the project timetable. Potential replies should be informed that site services must be completed before additional milestones may begin.
A clear project scope and timetable ensure only vendors who can meet the timeline will submit proposals.
4. Point out challenges
This step lists potential project problems, such as resource shortages. It helps vendors anticipate project challenges. This part helps vendors understand the project timetable and create more accurate proposal estimates.
5. List selection criteria
The bidding process and selection criteria are outlined in step five of an RFP to help vendors evaluate opportunities. Selection criteria usually include a mix of technical and non-technical skills needed for success.
Technical criteria include:
- Specific industry experience
- Specific technology knowledge
- ISO certification, for example
Examples of non-technical criteria:
- Customer service data
- Communication quality
- Evidence or testimonials
Add legal or regulatory standards to ensure vendor compliance. If a municipal project prefers SMB candidates or enterprises with an ESG rating, the RFP should state so.
Best practices for RFP authoring by vendors
The following best practices help develop stronger RFPs for greater results, whether building a new one or enhancing a company procedure.
Project scope and objectives
Documented project parameters and goals make the RFP process operate best. Be specific and explicit in your goals. Tell potential vendors what you need and be flexible. This foundation sets realistic vendor expectations throughout the process.
Appoint a project manager
Assigning an RFP point person streamlines the process. This stakeholder will manage the project and coordinate with vendors. They may organise company-vendor contact, define requirements, and evaluate submissions. All vendors receive the same information and should anticipate a consistent review.
Set selection or weighting metrics
Establishing selection criteria improves results. These factors help choose vendors based on project goals. Project requirements should guide selection criteria, including cost, quality, delivery time, and vendor skills.
A weighted decision matrix compares vendors by selection criteria. Measure the supplier’s ability to meet project goals via metrics. The RFP should specify criteria to ensure suppliers receive equal information and are evaluated fairly. To find the best project supplier, responses are rated using criteria and weighted points.
Get internal feedback
Organisational RFPs should be collaborative. When creating an RFP, consult internal business stakeholders, procurement team members, decision-making consultants, and executive team members. Teams can discuss different viewpoints, specify interdepartmental requirements for the winning vendor, and provide comments on RFPs by collaborating.
Before submitting, proofread
Though obvious, RFPs should be proofread and edited before being sent to vendors. This goes beyond typos (though presentation is important). The editing process ensures an RFP is clear, succinct, and meets the organization’s needs.
Make sure every department checks the document for essential information. It assures potential vendors to showcase quality solutions and services the first time.
