RFI / RFP Evaluation

RFI / RFP responses may be evaluated using points scoring criteria and scorecards. Results can then be compared within a software evaluation matrix. From which, the optimum software / vendor can be short-listed or selected. See RFP Evaluation Template for a quick and easy-to-use template. RFP’s are best evaluated as a team effort, following an agreed process and framework such as below. Undertake the following actions to review, analyse and score the responses and then compare in a matrix. On receiving the RFP / RFI responses • Date and time stamp the receipt of responses. • Acknowledge each receipt. • Have the responses been received on time? If not will you accept late responses? • Have you received all the responses you expected? Will you chase up the outstanding responses or will you ignore those vendors who have not responded? • How complete is each response? Have you received everything you requested from each vendor? Reviewing and analysing the RFI / RFP responses • Analyse each RFI / RFP response using a ‘score card’. • Review each requirement listed in your RFI / RFP and check the answer(s) provided by the vendor. Use a simple ‘Yes or No’ marking, or a combined weighting and scoring method to indicate to what degree your requirements are met by the vendor / software eg in the example below. • NB: Vendors will tell you what their software can do and will present their product in the best light. They will not tell you what it cannot do. You have to find this out yourself - so work carefully and record the evidence as you find it. • Repeat the process, using a new scorecard for each software / vendor RFI / RFP Scorecard Key • Evaluation criteria = your outline requirements • Requirement weighting = Essential (3), Desirable (2), Nice to have (1) • Evaluation score = based upon reviewing and analysing the RFI / RFP response o 0 = does not meet requirements o 1 = partially meets requirements o 2 = meets requirements o 3 = exceeds requirements • Points = weighting x evaluation score Other factors to consider In addition to the software meeting your functional requirements, also consider: • Keenness and enthusiasm of the vendor to be involved with your organisation. • The professionalism exhibited in all aspects by the vendor. • Quality standards that the vendor has achieved. • The vendor being able to meet your time scales and deadlines, including both the short-list / selection phase and also the full implementation phase. • Whether the vendor has the resources to handle your system implementation, or whether the vendor normally outsources the implementation to another firm. • Costs and payment terms offered, and whether these are negotiable. • Vendor’s references and current clients, particularly if they are in a similar industry or business sector to your organisation. Comparison matrix It may be obvious from the individual scorecard results and additional factors, which software vendors / packages should be short listed. However, if it is not quite so clear, consider preparing a comparison matrix of the results of each of the scorecards above. For example: In this example, vendors A and B should be short- listed and vendor C excluded from further investigation. The comparison matrix forms key evidence as to which software and vendors should be short- listed and investigated further. Don’t just choose based on the lowest price! Consider all the factors before making a decision. Keep the scorecards and comparison matrix and use them as the basis for more detailed evaluation criteria eg when attending the software demonstrations. For more RFI / RFP information, visit: RFI / RFP Sample, Reviewing RFI Responses, RFP Scoring Guidelines, RFI / RFP Evaluation, Rating Criteria for RFP, More Complex RFP Scoring