What does Request for Proposal mean?
Definitions for Request for Proposal
re·quest for pro·pos·al
This dictionary definitions page includes all the possible meanings, example usage and translations of the word Request for Proposal.
Wiktionary
request for proposalnoun
A formal publicly released document outlining a need and inviting businesses to submit plans to fulfill that need.
Wikidata
Request for proposal
A request for proposal is a solicitation made, often through a bidding process, by an agency or company interested in procurement of a commodity, service or valuable asset, to potential suppliers to submit business proposals. It is submitted early in the procurement cycle, either at the preliminary study, or procurement stage. The RFP process brings structure to the procurement decision and is meant to allow the risks and benefits to be identified clearly up front. The RFP presents preliminary requirements for the commodity or service, and may dictate to varying degrees the exact structure and format of the supplier's response. Effective RFPs typically reflect the strategy and short/long-term business objectives, providing detailed insight upon which suppliers will be able to offer a matching perspective. Similar requests include a request for quotation and a request for information. In principle, an RFP: ⁕informs suppliers that an organization is looking to procure and encourages them to make their best effort. ⁕requires the company to specify what it proposes to purchase. If the requirements analysis has been prepared properly, it can be incorporated quite easily into the Request document.
Numerology
Chaldean Numerology
The numerical value of Request for Proposal in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of Request for Proposal in Pythagorean Numerology is: 4
Examples of Request for Proposal in a Sentence
The Navy released a CVN 80/81 two-ship buy Request for Proposal to Huntington Ingalls Industries - to further define the cost savings achievable with a potential two-ship buy. The Navy received HII response May 1 and will consider it in its procurement planning for both ships.
The wreaths have to be made, that's that and for many long-standing years there is [a request for proposal] process.
Translations for Request for Proposal
From our Multilingual Translation Dictionary
- demande de propositionFrench
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"Request for Proposal." Definitions.net. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.definitions.net/definition/Request+for+Proposal>.
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