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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?

An RFI

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?

It explains at a very high level what is expected of the suppliers product or service and how it will fit in the overall business process of the customer's organization.

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

The question on the page originate from the summary of the following study material:

Fundamentals of Contract and Commercial Management | 9789087537135 | International Association for Contract, et al

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