RFI+&+RFP

//what they are, why is the RFP process important (best price and competition),. RFI is less formal than RFP.// **Request for proposal (RFI)** is a type of procurement document whereby the buyer requests potential sellers to provide various pieces of information related to a product or service or seller capability. It is requested before Request for Proposals. RFI is less formal than RFP. Generally, it doesn’t have legal aspect. RFI should cover below issues -Introduction; What is the purpose of this RFI (request for information)? -Background; What history led to this procurement? -Vendor information. -List relevant experience, name, contact information (e-mail, phone number, and address), and associated references of vendors. - What is the timeline for responding to the RFI: -Guidelines for information -Vendor selection criteria -Requirements - Describe the education, training, and documentation available for your product. - Describe the maintenance support available for your product. - How much will this cost? (OPTIONAL) **Request for Proposals (RFP)** is used to solicit proposals from prospective sellers. Participating RFP process helps us prevent mistakes in defining real requirements and features we need. Getting more proposals provides competition and helps us get better price. In order to get more proposals we have to write our RFP very well. We have to define our requirements in a way that more sellers can understand and reply to us. RFPs are more official than RFIs. It’s important to prepare some form of evaluation criteria, preferably before issuing a formal RFP. RFP should give the impression of clarity in defining requirements and fairness in evaluation to potential sellers.
 * __2. RFIs and RFPs:__**