Request for Proposal Notes: Definitions & Explanations PDF | Download eBooks
Study Request for Proposal lecture notes PDF with project management definitions and explanation to study “What is Request for Proposal?”. Study request for proposal explanation with project management terms to review project management course for online MBA programs.
Request for Proposal Definitions:
Request for proposal (RFP) is defined as a document listing he need and requirements of a project.
Successful Project Management by Jack Gido and James P. Clements
Request for Proposal is a type of document used to request proposals from prospective sellers of products or services.
A Guide to the Project Management Body of Knowledge by Project Management Institute
RFP is the most costly endeavor for the vendor and contains separate volumes for cost, technical performance, management history, quality, facilities, subcontractor management, and others.
Project Management: A Systems Approach to Planning, Scheduling, and Controlling by Harold Kerzner?
Request for Proposal Notes:
In order to identify the needs and requirement for a project, a document is written which includes the customer's requirements of a project. This document is called request for proposal (RFP). Through request for proposal, a customer asks the individuals, contractors or organizations to submit proposals for the project listing the methods of carrying out the project, the budget and the project schedule. A request for proposal outlines the needs of a customer for a specific project and provides customer's expectations from the contractors or organizations who will show willingness to carry out the project. For example, if a customer wants to organize an event, he/she identifies the requirements of a successful event in request for proposal (RFP), and the event management organizations respond to the RFP through a proposal.
Keep Learning with Project Management Notes
What is Proposal?
When a customer requests for proposal, contractors respond in the form of a detailed document outlining the method of fulfilling ...
What is Total Slack?
Sometimes an activity takes more time than the estimated duration. This time must be calculated in order to know if ...
What is Committee Sponsorship?
An individual who is responsible for the performance of a project is called project sponsor. Generally, an organization assigns a ...
What is Fixed Budget Method?
When the needs of procurement are identified, the suitable sources must be selected. First, the needs are prioritized, then the ...
What is Stakeholder Mapping and Representation?
Key project stakeholders must be identified by the project team. For this identification, data regarding them is needed. After data ...
What is Preffered Provider?
Partnership involves two or more parties, organizations, individuals or organizations working together for a common goal. If the projects are ...