What is the meaning of RFP in construction?
Request for proposal
A request for proposal (RFP) is a project announcement posted publicly by an organization indicating that bids for contractors to complete the project are sought.
What is the purpose of an RFP?
An RFP is a document that a business, non-profit, or government agency creates to outline the requirements for a specific project. The RFP process helps solicit bids from vendors and identify which one is best qualified to complete the project.
What does a construction RFP look like?
An RFP typically consists of a project overview encompassing the scope, technical specifications, timeline and budget. It also includes submission guidelines, evaluation criteria and contractual terms.
Is an RFP the same as a bid?
What does an RFP usually include?
What does an RFP include? An RFP generally includes background on the issuing organization and its lines of business (LOBs), a set of specifications that describe the sought-after solution and evaluation criteria that disclose how proposals will be graded.