Key Details to Include in RFPs
July 10, 2019
A critical element in the business success of a general contractor is having accurate information from a request for a proposal (RFP). Contractors can control the level of RFP accuracy by including or asking for certain key details.
What Is a Request for Proposal?
An RFP, sometimes referred to as RFQ, is a document used by someone who has an interest in procuring a specific commodity, service, or asset from a provider in order to get details related to the expense before the transaction takes place. General contractors use RFPs to receive a bid estimate from subcontractors, which they use in compiling their own bid on a construction project. Receiving accurate information helps the contractor establish a competitive bid and head off completion time conflicts, cost overruns, and a wide range of other project mismanagement issues.
Controlling RFP Accuracy
Knowing what details to include in an RFP is important. If you request or provide inaccurate information in RFPs, you will receive an inaccurate estimate in return. Here are ten details that will improve RFP accuracy:
- Clearly communicate your expectations for the project.
- Specifically define the scope of the requested work, product, or service.
- Provide clear directions concerning the project's location.
- Define the project timeline and expected deadlines.
- Communicate the necessity or reason for the project.
- Provide a clear description of the level of expertise required to complete the project.
- Request documentation supporting all necessary qualifications and certifications.
- Clearly define who should apply and factors that might exclude certain individuals or entities.
- Provide accurate contact information including the specific person and the appropriate contact parameters.
- Clearly communicate the bid deadline for the project, allowing your company adequate time to evaluate the proposal and prepare its own bid.
RFPs with PlanHub
Putting together an RFP with all the necessary elements to solicit accurate information is available through the PlanHub app. With PlanHub, all the necessary bid management tools you need are at your fingertips and easily integrate into other aspects of managing your projects.
Contact us today to learn more about the software available to simplify creating a bid for your next project.