Best Practices for Request for Proposals Part 2
A request for proposal (RFP) is a document organizations use to communicate their requirements for a project to companies that will compete for the the right to work on that project. It’s a way of evaluating the abilities of competing companies against a set of guidelines. This helps organizations submitting RFP’s to get the most qualified company for fulfilling a position. It also helps companies responding to RFP’s pursue work that’s most suited for their skillset.
In the first part of this series, we provided best practices for responding to RFP’s. In part two, we will provide additional tips. One the best practices that you can commit to for dealing with RFP’s is having a Tallahassee construction law attorney from Cotney Construction Law review it.
Understand the Cost Requirements
Everything has a cost. To perform the duties listed in an RFP, it will be an investment of both time and money. Read the RFP carefully and if it doesn’t give an idea of how much it will take to complete the project, from a vendor standpoint, ask questions to get clarification. Remember, project costs include more than just labor, materials, and equipment. Find out what the expectations are for project meetings and report generation, for example. This information will help you determine, financially, if a project is worth pursuing.
Understand How the Problem Needs to be Solved
In essence, each RFP presents a problem that the requesting organization would like the help of competing companies to solve. This is no different for construction projects. When responding to an RFP, examine closely what’s being asked. What is the new structured designed to do? What’s important to the requesting organization? This information will give you what you need to build a plan for how you will solve the issue.
Present Alternative Solutions
One the greatest benefits that you can provide in the RFP process is new approaches to solving problems. This is what can separate you for the competition. Make sure that you respond with the specifics of how you will solve a problem and give a couple outside the box ideas that may not have been considered. If these ideas provide a more cost effective and efficient solution, you may have the edge needed to win the business.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.