How Effective are your RFP’s?
That is the question and unfortunately many professionals do not have this question on their radars. They often roll them out the door not truly realizing how ineffective they are.
Request for Proposals are quickly becoming the go to procurement form. They are on the rise because more and more companies are using them for all kinds of project work. Whether this is the right form they should be using for the task at hand is another blog post altogether! In this post we are going to focus on how to improve the effectiveness of your RFP which will help you produce the desired results and how to write a RFP without spending extensive amounts of resources.
To get right to the point, you will save time, money and energy if you focus your efforts on the content you include in your RFP. Increasing and including the correct content will increase its potential for success.
What determines the effectiveness of the RFP you have spent hours developing?
- Is it the number of questions your supplier’s ask during the response period? YES, if you are getting lots of questions then the Statement of Work is not detailed enough.
- The actual number of quality vendor responses received? YES, responding to a RFP is expensive and vendors will put in the effort to provide a quality response if the deliverables are clear. A win for both parties.
- The prices quoted by your vendors? YES, this will be a factor. If your RFP content is clear the quoted prices will reflect this. Removing unknowns will reduce costs.