Initiate Phase: Reauirements - Constructing an RFI or RFP
6 important questions on Initiate Phase: Reauirements - Constructing an RFI or RFP
What is the key difference between a RFI and a TFP?
- is used at an earlier stage than an RFP, when the intent to purchase has not yet been established;
- is more exploratory in nature and will generally be less precise in specific requirements.
- may be issued to facilitate a 'make or buy' decision
- may be issued to gather information to assist business and associated procurement strategy for instance in an emerging field or in relation to suppliers who are new to the market or geographies not previously considered.
Which critical information should a RFx contain?
- Purpose and objective
- Timeline for response
- Supplier/bidder conference (if one is being held)
- Contact information for buyer
- Dates, times, and mailing address for responses
- Instructions about the change process for changes to the RFx
- Executive overview
Where is the executive section in a RFx for?
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Which minimum information should be included in a RFx?
- If executing a NDA is required
- description of the proces to be used to evaluate each supplier's response
- assess of suppliers relative competitive position with the understanding that the technical requirements outlined in the RFx
What other considerations for evaluation will be include at a minimum?
- Budgetary costs, including one-time implementation and continuing operations and update costs
- The supplier's Security Plan, ownership information, and details of operations
- Acceptance of key terms and conditions, or the process for variations
- Supplier's financial condition
- Supplier s experience and quality control processes
- Submission of creative approaches/ideas.
Which particular consideration should Terms and conditions give?
- Intellectual property—both to protect the customers intellectual property and also to address the ability to use content from prospective suppliers' responses in any subsequent RFx
- Confidentiality provisions—these might be very restrictive project associated with the RFx is of a highly sensitive nature
- Specific compliance issues, both regulatory and to any internal policies or practices deemed 'non-negotiable'
- ^Mapping out the key contractual provisions that are expected to be part of any subsequent contract
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