How you can Evaluate Responses to a Project Request for Proposal

Project “RFPs” (Request for Proposals) are most successfully prepared utilizing pre-defined standards that provide content guidelines, alongside with established viability criteria to facilitate evaluation and promote knowledgeable choice making. That is the best way to get things executed and to satisfy all defined objectives. The key is consistency and constructed-in flexibility. Read on for more.

High Quality RFPs = High Quality Responses
With a purpose to obtain the highest quality responses, each RFP should be standardized to incorporate the following five (5) content parts:

The RFP Should Make Introductions. The RFP should provide basic introductions to the bidder regarding the company (who’s requesting the bid) and proposal scope.
The RFP Ought to Present the Need. The RFP should provide a quick project overview, stating the business case for the project and the must be filled.
The RFP Should State Requirements. The RFP ought to state the service and technical requirements and specifications upon which the proposed solution have to be based. Every necessities assertion ought to embody a “definitions” section to ensure that all parties share a common understanding of all enterprise and technical needs.
The RFP Should Set Phrases and Conditions. The RFP should state the expected phrases and conditions for solutions acceptance, together with delivery necessities, payment terms, and regulatory requirements.
The RFP Should Set Expectations. The RFP ought to describe the overall RFP bidding process, including response submission requirements, “successful” analysis and selection criteria, process deadlines, and related technical procedures (response format, submission mechanisms and the right way to submit questions and feedback).
RFP Content Guidelines and Analysis Criteria
As soon as RFP responses are received, each response must be reviewed and evaluated to determine the selected proposal. Utilizing a pre-defined “scoring system”, every factor of the RFP can then be ranked according to the “degree” to which requirements and priorities are met. To meet these goals, RFP evaluation standards are organized into three (3) actionable parts: criteria, degree and priority.

Start with Pre-Defined RFP Evaluation Criteria
Physical Necessities: To what degree does this proposal meet acknowledged physical resolution requirements (for hardware and/or software)?
Service Requirements: To what degree does this proposal meet stated service necessities?
Pricing: How does the proposed price compare to the (a) deliberate price range and to (b) different proposals?
Delivery & Installation: To what degree does this proposal meet stated delivery and/or installation requirements?
Warranties: To what degree does the proposal meet said warranty necessities?
Terms & Conditions: To what degree does the proposal meet stated contractual terms and conditions?
Skills & Abilities: Does the bidder have the mandatory skills and abilities to deliver this proposal?
References: Does the bidder have a proven track report in this type of project?
Intangibles:What other factors can be used to evaluate RFP responses and select the appropriate winner?
Move on to Response Analysis Scoring
How will RFP’s be evaluated? Using a standardized scoring system, “factors”can be assigned to every criteria element in line with the degree (extent) to which the proposed answer meets stated requirements. This is illustrated beneath:

5 points: Fully Meets
four factors: Meets, with minor gaps (no compromise required)
three factors: Meets, with moderate gaps (some compromise required)
2 factors: Partially meets (significant gaps, compromise required)
1 point: Doesn’t meet
Make Your Analysis Priority Rankings
The third factor of the scoring system is the “priority ranking”. In the middle of the RFP process, bidders shall be asked to answer multiple requirements. The degree to which every requirement will be met will differ, even within a single proposal. However, since some necessities will carry more weight than others, wiggle room could exist. Priority rankings will enable you to put requirements in perspective, helping you to identify the points at which compromise is possible. For example… You’ve got obtained a number of RFP responses and you have identified the solution that greatest meets your technical requirements. Nonetheless, this vendor is unable to meet your delivery and set up timeframe. Can you compromise? Priority rankings may also help you work it out, as illustrated under:

High Priority: No Compromise Allowed
Moderate Priority:Moderate Compromise Allowed
Low Priority:Minimal Compromise Allowed

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