A Request for Proposal is a document that an organization posts to elicit bids from potential vendors for a desired information technology solution. It specifies what the customer is looking for and establishes evaluation criteria for assessing proposals. It provides a procurement framework to streamline the initial stages of contractor solicitation.
RFPs are organized into the following three primary procedural categories:
- Technical: Detailed and precisely formatted bid statement, including objective, content summary, required development, quality/quantity standards and projected deliverables.
- Administrative: Corporate history, team organization and references.
- Financial requirements: Financial data, multiple pricing options, risk analysis, projected milestones and tactical short/long-term business plan Other types of requests include request for quotation (RFQ) and request for information (RFI).