Five key steps from issuing a Request for Proposal (RFP) to awarding the contract.

The Infographic below provides a clear, high-level summary of the typical chain of events that occur when issuing an RFP for a product or service.

Many organizations underestimate the complexity and time required to properly issue, evaluate, and award an RFP. Each step plays a critical role in ensuring a fair and successful process.

This visual guide to the five essential steps in the RFP-to-Award process is designed to offer practical insight on the process.  Hope it helps!

5 Step Summary – FROM RFP TO AWARD

Step 1 – A need is identified, and Scope of Work (SOW) is provided.

All companies, regardless of size, that make the effort to issue a Request for Proposal (RFP) do so because they have a need for a product or service and are seeking proposals from qualified suppliers to address that need. This requirement typically comes with clearly defined specifications. With a Statement or Scope of Work established, the group should now collaborate on developing the RFP.

Step 2 – Invite suppliers to your RFP

Identifying a list of competent and qualified suppliers to invite to bid on your RFP is often one of the most important steps in the entire process. Some companies prequalify suppliers before issuing the tender, others rely on experience or performance from past projects, and many depend on recommendations from colleagues. Regardless of how you assemble your vendor list, this is not an area to shortcut.

Step 3 – Question and clarification period

It’s important to remember that the more detailed your SOW is, the fewer questions and clarifications will surface during the response period. A detailed SOW leads to more accurate quotations because unknowns are less likely to be factored into the cost. Typically, three to four weeks are allotted for an RFP response, depending on complexity and whether site visits are required.

Step 4 – Evaluation of responses

Now that you have all the proposals or responses from your bidders, what’s next? Many companies use an evaluation matrix, where areas such as commercial terms are scored and used to support the award decision. At this stage, you are reviewing each proposal in depth and shortlisting the responses that best align with your project requirements.

Step 5 – Award

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