QuestionAssignment #1: RFP – Request for a ProposalDescription:In groups of 4 people, Request for Proposal (RFP) for a project you are assigned to. In this scenario, you will be the company or person with the money for project but not the expertise or resources to complete it, so that you will be hiring an external vendor through the RFP process. The more detailed, accurate, and articulate the proposal – the easier it is for the suppliers to understand and the more marks you will get. As discussed in class, RFPs can contain many different sections, but for the purposes of this assignment, you must be sure to include the following sections:PurposeStatement of WorkCustomer RequirementsDeliverables ExpectedMilestone ScheduleDue DateEvaluation CriteriaBudgetGuidelines:Following are some guidelines for drafting a formal request for proposal to external contractors:The RFP must state the project objective or purpose, including any rational or background information that may help contractors so that they can prepare thorough and responsive proposals.An RFP must provide a statement of work (SOW). An SOW deals with the project’s scope, outlining the tasks or work items the customer wants the contractor or project team to perform.The RFP must include customer requirements, which define specifications and attributes. Requirements cover size, quantity, color, weight, speed, performance, and other physical or operational parameters the contractor’s proposed solution must satisfy. The customer may also use these requirements as acceptance criteria.The RFP should state what deliverables, or tangible items, the customer expects the contractor to provide. They can include periodic progress reports or a final report as well as a final product.The RFP should state the acceptance criteria the customer will use to determine whether the project deliverables have been completed according to the customer’s requirements.The RFP should list any customer-supplied items.The RFP might state the approvals required by the customer.Some RFPs mention the type of contract the customer intends to use. It could be a fixed price, in which case the customer will pay the contractor a fixed amount regardless of how much the work costs the contractor. (The contractor accepts the risk of taking a loss.) Or the contract might be for time and materials. In this case, the customer will pay the contractor whatever the actual costs are.An RFP might state the payment terms the customer intends to use. The customer may specify progress payments or pay when the entire project is finished.The RFP should state the required schedule for completion of the project and critical milestones. It might merely state a required completion date, or it might give a more detailed schedule.The RFP should provide instructions for the format and content of the contractor proposals. Instructions might state the maximum number of pages, the number of details the customer wants the contractor to show regarding the costs and other specifications.The RFP should indicate the due date by which the customer expects potential contractors to submit proposalsCritical Success Factors:The need must be clearly defined before preparing a request for proposal (RFP).When selecting a project from among several needs or opportunities, management should base the decision on which project will provide the most significant overall benefits compared to its costs and possible consequences.Having a well-understood evaluation and selection process and a well-rounded committee will increase the chances of making the best project selection decision.Establish quantitative project success criteria or expected benefits.A good RFP allows contractors to understand what the customer expects to make a thorough proposal that addresses the customer’s needs and requirements.A request for a proposal should include a statement of work, customer requirements, expected deliverables, and the criteria by which the customer will evaluate proposals.An RFP should provide instructions for the format and content of contractor proposals so that the customer will make a consistent and fair comparison and evaluation of all the proposals.Customers must be careful not to provide information to only some of the contractors because it would give these contractors an unfair competitive advantage in preparing their proposals.BusinessManagementProject Management OMGT 229

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