The success or failure of the resulting solution
Skillfully creating a request for proposal can ensure the success or failure of the resulting solution. If the specified requirements are too vague, the bidder may not design and implement an adequate solution for the problem. If the requirements are too detailed and restrictive, the bidders’ innovation may be limited.
The RFP process begins with drafting a request for proposal. Bidders review the solicitation and submit suggestions for improvement.
Instruction:
Section 1:
1. Provide an RFP outline.
Section 2:
1. What kinds of projects would you recommend a fixed-priced contract be used?
2. What kind of project would you recommend a cost-plus contract be used?
3. Provide an example and multiple reasons why while referencing elements of Request for Proposal (RFP).
Write a 350 to 500-word paper.
Sample Solution
A fixed-price contract is a type of agreement in which both the buyer and seller agree to an exact price for goods or services. This type of arrangement is useful when project requirements are well-defined and understood by both parties, and there is minimal risk involved with completing the task (Gulati & De Lange, 2019). To ensure success, it’s important to have accurate estimates of desired outcomes and timeframes.
Fixed-priced contracts work best for short to middle length projects with clearly defined objectives that don’t anticipate drastic changes as the process moves forward (Bouwman & Van der Linden, 2017). Examples include website design projects with well established specifications; software development agreements where the deliverables are known up front; logo design; marketing campaigns with precise guidelines pertaining to content creation, distribution channels, etc.; and any other tasks that can be broken down into specific steps. It’s generally not recommended for long term or complex projects as they typically involve greater risks that would need additional negotiation beyond a fixed-price arrangement.
