RFP definition

A request for proposal (RFP) is a formal document that an organization uses when it wants to acquire a product or service.

A company or an organization publishes the RFP that includes a detailed explanation of the requirements. The organization uses the RFP to solicit bids and identify the best partner in developing the product or service. It is a competitive process in which several companies may submit proposals.

Aidax can guide your company or organization through the RFP process for a solar project. Note that an RFP needs to be well written and also well evaluated before a contract can be awarded to the winning bid.

RFP – instrumental in the bidding process

The RFP outlines what your company or organization is looking for and how it will evaluate proposals. It typically includes information in the following categories:

  • Technical: Describe the business objectives of the project and details about the scope of the project including development, standards, outcomes, and deliverables.
  • Administrative: Provide information about the company issuing the RFP, including its organization and operations.
  • Financial: Outline information about the company’s business plan, financial data and risk analysis.
  • Timeline: It is quite important for the bidders to commit to the milestones in order to prevent a project from dragging on for a longer than anticipated time period.