Successful RFPs in Construction: Managing the Request for Proposal Process

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This document should include:. While exploring your RFP specifications in more detail, your professional should also identify what information is not necessary in a request for proposal for your project. This process may take a couple of days of coordination and communication to create a best and final offer RFP.

Our team is experienced in helping clients create requests for bids that get the results they want. But our services are about more than just creating RFP contracts. Our CEO and founder Chris Gardner brings a thorough understanding of every part of the real estate development process , garnered from more than 20 years of experience in the commercial and multifamily industry.

He has been in your shoes as a property owner, and he understands how important your goals and needs are. They will always come before anything else in your partnership with his company. In his time as a real estate consultant, Chris Gardner has also cultivated an extensive network of vendors for various services involved in the real estate development process — and that network is always growing. When you work with him, you will gain access to all of those trusted professionals. When you are ready to start your request for proposals and vendor evaluation process, please schedule a consult with our team to learn more.

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What is a Request for Proposal? Bidders review the RFP and submit any suggestions they have for improvement. A final request for bids is issued. Bidders submit their response to the request for proposal. The company either selects a bidder or determines a group of bidders to further evaluate, after which a final decision is made.

After the contract has been awarded, the company and the vendor will engage in creating a service contract with which both parties are comfortable. They can provide expertise on new or emerging technology, best-in-class vendors, and help to build out questions to weed out potential bidders. Gathering all the requirements of your project at the start of the RFP process is critical to ensure your RFP is a success.

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Set project goals and work closely with your RFP team to determine your requirements at the onset of the project. These three types of documents are called RFXs collectively. Both the RFI and RFQ can help to better define requirements and give you a clear picture of the types of products or services that are out there. The traditional spreadsheet RFP format will also work, but use a collaboration platform like Google Docs or Sharepoint to track edits and contributions. These vendors should be selected based on those you know will be able to fulfill your project requirements.

How to Setup and Manage Your Request For Proposals (RFPs) | Cleverism

How do you know which vendors will be qualified to bid on your project? Have your legal team or counsel draft the NDA to protect your organization, but also weed out any unqualified bidders. From processes and strategies to designs and corporate structure, RFPs can provide valuable information about your company to your competitors. Further, an NDA will deter collusion, bid-rigging between vendors, and provide you with legal recourse if any information is leaked. Provide at least business days for the vendors to review, request changes or submit inquiries, and provide their signatures.

TIP 1. TIP 2. Format your RFP into sections, so you can easily assign sections to specific team members. Section-based RFP formats also make it easier for vendors to complete, and for you to assess and score later. Next, create a pricing template that includes fields for all components of your requested services. Vendors will use this template to provide their fees on a per-component basis. This can cause major issues later if undetected. Do provide some open fields for vendors to provide notes on any commitments, minimums, or caveats.

Asking for specific prices, rather than in a bundled format, will put you in a better position to compare vendor prices on an apples to apples basis.

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A timeline should be included within your RFP overview document. Key items that should be listed in your timeline include:. Many organizations require proof of specific documents, certifications, or policies in order to qualify a RFP vendor. These can range from insurance certificates and health and safety forms, to statements on diversity and environmental practices. Some companies decide to do this manually through emails and attachments. Others choose to utilize online RFP management software.

Other cloud-based procurement portals can also help to provide a central platform where documents can be uploaded, stored and downloaded. These portals usually come with basic functionality to gate documents based on deadlines and access levels.

Successful RFPs in Construction Managing the Request for Proposal Process P L Custom Scoring Survey

Launch time! Your timeline should have provided all vendors with a deadline for submitting questions about the RFP. Ensure you have a way to collect these questions in a common format — such as an excel template or RFP management system.

These conferences ensure all RFP bidders receive the same information and gain time with the project stakeholders to develop a deeper understanding of the project. In general, your RFP questions will be considered your technical requirements. Be sure to work closely with your internal stakeholder team to determine the weighting for each question and other requirements. The weight of a question is a number range say between 1 and 10 which quantifies the importance of that question to the overall RFP.

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The score is the number given to each response. The sum of the scores for all possible responses for a single question must add up to Setting up your responses in a multiple-choice format makes it easy to score later. Get started by giving every member of your RFP team a copy of each proposal submission.

Organize these responses side-by-side.

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A good eProcurement platform will usually have some sort of scoring feature. Your RFP Team can weight all the questions in advance, so that vendor responses can be scored in realtime. This cuts out the manual review process significantly. Following scoring and a thorough review of all RFPs, select a shortlist of vendors that meet critical requirements and have scored above competitors.

The Elements of RFP Style

Eliminate any vendors who score lower than average and any that do not meet critical requirements. The shortlist of vendors is usually 3 or 4 but can be more or less, depending on the number of qualified vendors. The shortlist of vendors will move onto the next stage of the RFP process. This is not a time to be shy. After the vendors have presented their proposals you should have a much better idea of their capabilities and solution..

At this point you should be able to narrow your selection down to the two best-suitable vendors to move forward to the final contract and scope review phase. We recommend keeping at least 2 prospects, as there could still be unforeseen issues that could deem one a bad fit. Now that you have narrowed down your selection to the final two providers, you will want to receive copies of their actual scope of work SOW and contracts to review for any open questions or possible concerns. If there are items that are missing in the documents that were covered in the RFP, you will want to ensure you address those.

All aspects of the contract or scope should be clearly stated and listed out.

How to Setup and Manage Your Request For Proposals (RFPs)

The contract and the RFP are two different entities. The scope and agreement that were reviewed in the prior step should contain the pricing details of the solution. If you would like to see any edits or adjustments to pricing, this is the time to negotiate those pricing concessions.