What does rfp stand for

It can also be helpful to schedule time for bidders to ask questions about the project. The RFP then has a section about the project timelines. This section describes how long the project is expected to take and any important deadlines. It is important to set an appropriate timeline. Bidders will use this information to determine if they can work within your time restraints. The final section outlines the proposal process.

It should include how the assessment process works and when bidders should expect to hear back. This section can also include an outline of how bidders should format their proposals. By: Justin Stoltzfus Contributor, Reviewer. By: Satish Balakrishnan. Dictionary Dictionary Term of the Day. Natural Language Processing. Techopedia Terms. Connect with us. Sign up. Term of the Day. Best of Techopedia weekly. News and Special Offers occasional. Full Bio. RFI Request for Information The customer knows what business problem they want to solve, but is not sure how a vendor's product or service could provide a solution.

If that is truly the case, how can you know what systems out there will meet your needs unless you give the vendors the flexibility to discuss your current business processes in a collaborative manner? If you simply put out a list of detailed needs based on what you do today, you will get responses in which vendors try to shoehorn their solutions to meet that list and miss the opportunity to truly change your business for the better.

The RFQ mentality, in short, undercuts some of the positive changes you can see in your business processes as a whole. You will find refined, affordable solutions for sales, marketing, e-commerce, and all the ways you need to connect with whoever you serve. Search the blog Search blog for Subscribe to Blog. Cobalt Blog July 13, Add it HERE! Still can't find the acronym definition you were looking for?

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Request For Proposal Governmental » Military -- and more Rate it:. Request For Partners Community.