A Request for Proposal (RFP) is a formal document sent to vendors when an organization needs external services or products for a project.
Key Components
✔ Project Overview – What’s needed?
✔ Vendor Requirements – What expertise is required?
✔ Evaluation Criteria – How will bids be judged?
Example in Action
A hospital needs a new patient management system. They send an RFP to software vendors, outlining:
- Software must integrate with existing hospital databases.
- Vendors must have experience in medical software.
- Proposals must include cost estimates and implementation timelines.
By using RFPs, organizations get competitive bids and choose the best supplier.
