There are two ways of developing a software application. One is you can code it on your own if you have a team with the required skills.
A Request For Proposal is a document that explains enough details about your software project and the services you require, so that the potential software development partners can send you their bespoke proposals. The proposals will contain information regarding the technology preferences, development methodologies, development and deployment process, estimated cost, and many other aspects.
An RFP is very necessary for complex projects that require technical recommendations. Hence, in the hunt of the right software development partner, you should draft an RFP for your project. With an RFP in place, you’ll be able to identify and address certain challenges with your project and this will also help find possible solutions for these issues. Responses on the RFP will allow you to compare different software developers, their pricing models, competencies, and development process. A perfect RFP document will enable you to:
Based on the type of information you are seeking for your project, you may have to send different documents of requests. However, there is some similarity among all of the request documents, but first, let’s briefly discuss other request documents:
Request For Quotation (RFQ)Often referred to as RFQ, a Request For Quotation is the document that companies prepare when they want to compare software developers by their proposed cost. Preparing the RFQ is very starightforward but it isn’t advisable to rely only on the price while selecting the perfect software development partner.
An RFQ is an indication that you’re not seeking suggestions from the software developers, you just want someone to code for you in the lowest possible budget. If you think this is suitable for your project, go for it. But, if you want the software developer to proactively find the best possible solution for your project, you should consider drafting an RFP instead.
What will you require to prepare RFQ?
If you want software development companies to officially present you with their information related to their capabilities, services, pricing etc. you should draft an RFI. It will enable you to gather information about that particular software development company, and based on the information received, you can decide whether or not you want to share your project details with them.
RFI is also used for screening. It will help you select 3-4 software development companies to whom you will send your RFP.
What you’ll need to draft an RFI?
Drafting an RFP to find a perfect software development partner is not only time-consuming but also stressful and difficult, if the process is not done in the proper manner. This is likely to be one of your first steps towards getting your software built, and the choice you make here will directly affect the end product. To make sure that you capture the potential of different bidders, you should have a plan for carrying out your RFP.
Before you jump into writing the RFP document, you need to plan it first. First thing you should do is to assign a project manager to make sure that the RFP process keeps moving forward. You should be aware of your project constraints such as competitiveness, industry regulations, project deadlines, target market, the work you’ve already done, etc. You’ll be mentioning these constraints and challenges within the RFP.
Some common project constraints:
Now when you’ve planned for your RFP, now is the time to create it. To make sure that the bidder gets a clear picture of your project, you should draft your RFP based on the following Request For Proposal format.
Once you’ve crafted your RFP, you should share it with relevant individuals within your network, send it to the development companies that you’re already in touch with and publish it on relevant sites/platforms. Once you have done this, you will need to start managing the responses and responding to the questions asked by the bidders.
If this next process is not managed well, the RFP responses can quickly get out of control. You will receive dozens of responses, and you should start shortlisting companies after receiving the first few responses. You should be prepared to coordinate the responses and connect with the companies with favourable responses. You can give them an opportunity to present their proposals in person over a video conference or face to face meeting.
It is true that you will not have the time and resources to engage with many bidders. Throughout the time, we’ve seen companies responding to only the top 5 bids, and I would recommend the same number to you.
Reviewing the ResponsesReviewing your potential partners to make the final choice will require you to analyse the responses they’ve made to the RFP. You will also have to answer the questions, which they may have raised. One way to evaluate the responses is to use scores for particular criterias.
For example, you can decide on important criteria for selection. These criteria may include the vendor’s past relevant experience, recent deliverable quality, client reviews, awards and recognitions, pricing, expertise, answer to RFP queries and so on. You can assign importance weightings (ranging from 1 to 10) to each particular criteria. The final score will help you make your decision.
Things to avoid while writing an RFPIt really isn’t, when you know what to include. In this article, we’ve discussed the essential elements you can include in your RFP, but you shouldn’t be limited to these components. Try to include all the information that can be helpful for the bidders to craft a perfect solution for you.
One thing is clear, if you want big software development companies to take your project seriously, you should have an RFP. If you are not sure what to include in your RFP, you can refer to the above-mentioned Request For Proposal format. It will allow you to create a great RFP document.
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