How to Write a Strategy Planning RFP
Strategy
October 13, 2022

How to Write a Strategy Planning RFP

Gaussian Team
An effective RFP process will let organizations find the best consultancy for their annual strategy planning

Sending out a request for proposal (RFP) for your organization's strategy planning is an essential step in the procurement process. By doing so, you establish a clear set of expectations and requirements for potential consultancies and facilitators.

An RFP for strategy planning should provide a clear and detailed description of the project. This includes an overview of objectives, the scope of work, the timeline, and budget parameters. Also, the RFP should outline qualifications that potential bidders must meet to be considered.

Why is an RFP Important?

An RFP is a critical tool for businesses seeking to purchase goods and services. An accurate and well-crafted request for proposal ensures that all potential vendors have the same information when submitting their bids, allowing organizations to make informed decisions about who should be awarded the opportunity.

This helps streamline the procurement process, reducing costs, time, and resources spent on researching suppliers. Additionally, an RFP allows organizations to evaluate multiple bids in one centralized location and compare prices across vendors to maximize their budget while finding high quality facilitation of strategy planning.

Building a structured RFP

When writing an RFP for strategy planning, it is essential to include detailed information about the reason for the RFP itself. Let the vendor know who they will be working for and why the solution matters to them. The RFP should outline the process for submission as well as any specific skills or prior experience that are essential to success.

When building your RFP, the following key areas need to be included:

  • Company overview. Share a high-level overview of your organization to give potential vendors an understanding of the industry you are in and the size of your company. Talk about the vision, mission, goals, and services you provide. Include details about clients and industries you service as well as your plans for the future. This helps potential bidders understand the scope of work and how it fits into the company’s objectives.
  • Multi-year objective(s). List out specific goals for each phase of the project included in the RFP. These can include desired outcomes, such as increased efficiency or cost savings, and deliverables on which companies will be evaluated. Clearly define what success means and how it will be measured.\
  • Situational background. Highlight current challenges that must be addressed, and explain why this project is being undertaken. Challenges can be as broad or as specific as needed to explain the perceived benefits that the project will help realize. This information should provide context for prospective suppliers so they have a complete understanding of what is expected of them.
  • Deliverables. Clearly define everything that is expected to be included in the project and set parameters for what should not be included. This can include specific requirements, timelines, or budget limitations which will guide potential suppliers in their proposals. This section should be robust and comprehensive as it is the foundation on which competitive bids will be judged.
  • Qualifications. State the qualifications that potential suppliers must possess to be considered for selection. This includes experience, certifications, and references. Clearly define resource expectations, including the number and type of professionals who can work on the project. In addition, provide vendors with an opportunity to discuss the relevant experience they might have from other similar projects. If references are required indicate that clearly and also share details on the format in which these must be provided.
  • Timeline. Include clear timelines for each stage of the project, including any deadlines or milestones that are expected to be met by the supplier. In addition to realistic project timelines, it is also essential to clearly define the specific dates and times for submitting the RFP. The provided timelines should also include when the vendor can expect to hear back about the RFP process.
  • Evaluation criteria & process. Outline how suppliers should submit their bids, including any required documentation or forms they need to provide. Clearly define the scoring process for awarding the contract and how it will be assigned. Include information on the notification of successful bidders and when payment is expected to be made. Make sure to include any conditions that must be met before a contract can be signed, such as legal reviews or other approvals.
  • [optional] Appendix. Explain key terms and definitions in more detail to ensure understanding. Additional supporting documents or information can also be provided that are specific to the initiative.

Ultimately, an effective RFP provides potential vendors with all the necessary information needed to submit accurate bids and enables organizations to make informed decisions about who should be awarded the opportunity.

How to Write the RFP

A request for proposal is an opportunity for employees to stand up for themselves, their team, and what they need. While larger organizations utilize vendor management teams, the owner of the RFP is the team that will most benefit from the service or solution being provided. As such, the creator of the RFP needs to understand what they are trying to achieve from the project and how success will be measured.

The document they will build should include all of the details outlined above simply and concisely. As the team that will most benefit from the solution provided, emphasis needs to be placed on the goals and objectives, so the vendor clearly understands the expected outcome. Attention should be paid here to what the expected outcome of the project should show and also how overall success will be measured

While some parts of the RFP can be standard boilerplate information, project-specific areas will require an overall knowledge of the objectives the RFP is supposed to fulfill. In some cases, this might involve the inclusion of other teams and departments based on the overall scope of the project. 

For example, while a support team might understand that they need a ticketing system, they might need help understanding how it integrates into the company's existing CRM (Customer Relation Management) tool. In this case, they would also need to involve an IT or Operations team and potentially a Customer Success team in creating the RFP. 

Once the document has been completed, it will be sent to vendors, who will then submit bids based on the details outlined in the RFP. For larger projects, where an RFP is split into separate and distinct phases, the bid should include a timeline of when specific tasks will be accomplished and what resources they need to do so. 

The bid should also include an estimate of cost and how success will be measured. This serves as a benchmark for assessing which vendor is best suited to fulfill the requirements specified in the RFP.

In general, an effective RFP should provide clear instructions for vendors regarding the scope of work and project goals. The document needs to cover all relevant information vendors need to make an informed decision about their involvement in the project. 

Finally, it must allow for feedback from potential vendors on the timeline and other components of the project. This will help ensure that all parties involved understand their roles and responsibilities in completing the work and can develop a timeline that works for everyone.

Conclusion

With the right combination of research and planning, organizations can create an RFP that will enable them to find the best vendors to meet their needs. Not only does this save time and money, but it also ensures they get top-notch products or services at competitive prices.

Remember, an effective RFP keeps the procurement process organized and ensures everyone involved understands what is expected of them, promoting transparency and trust between buyers and suppliers alike.

By following these simple steps and utilizing an effective RFP process, organizations can confidently make well-informed decisions when selecting a vendor who is best suited to meet their needs. The Gaussian team is here to help you every step of the way, so don’t hesitate to reach out if you have any questions or need assistance with your RFP process.

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Photo by Gabrielle Henderson.

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