MGMT405 Midterm

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Recommended: Business environment

1. What is the difference between RFI and RFP? In what cases should be used each one?

A RFI is a Request for Information; the RFI is used when the objective of the project is unsure and/or the technology is new or unusual. RFIs are used when you need to explore a variety of potential solutions. A RFP is a Request for Proposal, the RFP is used to formally request a proposal from suppliers. Often, the information and technical details obtained through an RFI are used to draft the RFP. The RFP is used to request proposals from suppliers, the RFP and winning proposal become part of the contract language.
RFIs are used to collect information from the market. Sometimes RFIs are used to determine if the product or technology exists or is even feasible. In some cases, the buyer will learn that there is no solution or the solution is beyond the budget. In other cases, the buyer learns exactly what product or service will provide the solution needed. If the proposals are responsive to the RFI, then the buyer can draft the requirements for the RFP from the technical details in the RFI.
The RFI process saves the buyer time and money clarifying their intentions during the procurement process. If an RFP is submitted without sufficient knowledge or detail of the requirement, the buyer will lose a lot of time responding to questions, amending, or delaying the award of the contract. The difference between the RFI and RFP is clear, in that, the RFI is a request for more information before specifying the requirements in the RFP. The RFP is used to request a proposal to a specific requirement. The RFI is unofficial request for more information and the RFP is an official request for an offer to provide a product or service.

3. How w...

... middle of paper ...

...environment for any project involving a change in the current business environment?
It is important to document the existing environment in the RFP so that offerors can better understand the needs of the buyer. Business history gives the offeror an understanding of the current environment and the problem the buyer needs to solve. By giving the offeror this information they can better envision the business issues that are driving the problem and technical issues. If they can understand the existing business environment and the problem, the offeror will be able to determine if their solution will solve the problem. More importantly, the offeror will be able to provide an acurate estimate of the cost and schedule needed to implement the solution.

Works Cited

Porter-Roth, B. Request for proposal: A guide to effective rfp development. Addison-Wesley Professional.

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