RFP Fundamentals

On Demand Webinar

Webinar Details $219

  • Rated:
  • Webinar Length: 100 Minutes
  • Guest Speaker:   Kenneth Jones
  • Topic:   Purchasing
  • Credit:   CPE 2.0, ATAPU 1.5
All Access Membership
In this Webinar you’ll receive instruction on creating RFP’s and Scoring Matrixes and how to avoid common pitfalls.

You will learn: 

  • How to use an RFP and when an RFI is helpful. 
  • How to draft and use a scoring matrix 
  • How to work with and instruct a team assigned to score an RFP 
  • How to structure the RFP Document using mandatory and technical requirements 
  • How to evaluate cost as part of the RFP process 
  • How to assign weighted criteria 
  • How to facilitate the drafting of the matrix with the RFP 
  • How to work with staff unfamiliar with the process of an RFP 
  • How to ensure a successful outcome with the vendor community 
  • How to award multiple contracts from one RFP 
    1. Introduction
    2. Request for Proposal Workshop 00:
    3. Definitions 00:02:42
    4. Request for Proposal - Best Value 00:16:00
    5. Drafting an RFP 00:20:15
    6. RFP Table of Contents 00:25:00
    7. RFP Table of Contents Cont’d 00:27:33
    8. Drafting RFPs (Cont’d) 00:34:45
    9. Drafting RFPs (Cont’d) 00:35:41
    10. RFP Evaluation Process 00:43:02
    11. RFP - Evaluation Process (Cont’d) 00:49:38
    12. RFP - Evaluation Process (Cont’d) 00:51:30
    13. Request for Proposal Example 00:56:06
    14. Evaluation Instructions 00:57:32
    15. Example Weighted Criteria Listed in the RFP Document 00:59:06
    16. Identify Mandatory Pass/Fail Sections in the RFP Document 01:00:05
    17. Response Instructions 01:01:46
    18. Mandatory Check List Sample 01:03:50
    19. Sample Evaluation Language for Your RFP 01:05:22
    20. Phase 1 01:05:52
    21. Phase 2 01:06:02
    22. Phase 3 01:07:37
    23. Recommended Cost Formula 01:08:08
    24. References 01:09:20
    25. Collection RFP Evaluation Scoring Criteria 01:10:25
    26. Collection Procedures and Example Correspondence 01:11:16
    27. RFP for Collection Agencies - Questions for Contractor’s References Form 01:14:53
    28. Number of Year’s Experience in Company Based Collection Services 01:15:50
    29. References 01:17:39
    30. Documented Experience Collecting for Multiple Similar Organizations 01:18:04
    31. Financial Stability 01:19:02
    32. Z-Score 01:20:12
    33. Final Rating Sheet 01:21:03
    34. Summary of Evaluation Team 01:21:26
    35. Time Line - Request for Proposals 01:23:37
    36. Pitfalls 01:26:34
    37. Presentation Closing 01:40:16

    • Asset 01:19:17
    • Bankruptcy 01:20:22
    • Bid 00:03:09, 00:06:56, 00:16:32, 00:29:16, 00:53:02
    • Contract 00:31:04, 00:51:04, 00:52:10, 00:53:07
    • Cost 00:07:09, 00:35:02, 00:59:19
    • Financial Statements 00:49:26, 01:19:30
    • Liability 01:19:36
    • Procurement 00:29:05, 00:32:47, 01:00:40
    • Request For Information (RFI) 00:07:31, 00:54:15, 01:27:53
    • Request for Proposal (RFP) 00:01:20, 00:02:56, 00:05:00, 00:12:08, 00:16:03, 00:20:20, 00:23:51, 00:25:15, 00:31:09, 00:46:55, 00:49:57, 01:11:25, 01:18:07, 01:23:42, 01:25:49
    • Revenue 01:19:56
    • Scoring Matrix 00:08:27, 00:18:19, 00:20:23, 00:34:50, 00:44:51, 00:59:22, 01:09:29, 01:11:21, 01:13:55, 01:17:43, 01:25:41
    • Vendor 00:05:57, 00:08:17, 00:12:16, 00:24:16, 00:30:53, 00:40:10, 00:44:43, 00:50:07, 00:59:24, 01:01:49, 01:10:43, 01:13:45, 01:15:59, 01:21:12
    • Weighted Criteria 00:05:03, 00:35:17, 00:59:12
    • Z-Core 01:20:12

    Asset: Property owned by a person or company, regarded as having value and available to meet debts, commitments or legacies.

    Bankruptcy: is a legal proceeding in which a debtor declares their inability to pay back their creditors.

    Bid: A bid is an offer made by an investor, trader, or dealer in an effort to buy an asset or to compete for a contract.

    Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.

    Cost: The sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location

    Financial Statement: Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. ... A balance sheet or statement of financial position, reports on a company's assets, liabilities, and owners equity at a given point in time.

    Liability: In financial accounting, a liability is defined as the future sacrifices of economic benefits that the entity is obliged to make to other entities as a result of past transactions or other past events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.

    Procurement: Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process. Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared.

    Request For Information (RFI): A request for information is a common business process whose purpose is to collect written information about the capabilities of various suppliers. Normally it follows a format that can be used for comparative purposes. An RFI is primarily used to gather information to help make a decision on what steps to take next.

    Request for Proposal (RFP): A request for proposal (RFP) is a document that solicits proposal, often made 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.

    Revenue: In accounting, revenue is the income that a business has from its normal business activities, usually from the sale of goods and services to customers. Revenue is also referred to as sales or turnover. Some companies receive revenue from interest, royalties, or other fees.

    Scoring Matrix: A tool that helps you evaluate multiple options based on a set of criteria.

    Vendor: A vendor is a person or business that supplies goods or services to a company. Another term for the vendor is the supplier. In many situations, a company presents the vendor with a purchase order stating the goods or services needed, the price, delivery date, and other terms.

    Weighted Criteria: Weighted criteria is a two-part type of best value procurement in which bidding firms submit a technical component and price component to the STA. The STA scores the technical component using pre-determined criteria that are weighted according to pre-determined importance. Then, the price component is analyzed.

    Z-Score: The Z-score formula for predicting bankruptcy was published in 1968 by Edward I. Altman, who was, at the time, an Assistant Professor of Finance at New York University. The formula may be used to predict the probability that a firm will go into bankruptcy within two years.


    Guest Speaker

    • Kenneth Jones

    CPE Credit

    Continuing Professional Education

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    You must answer all questions during the webinar, view the recording completely and pass the test at the end with 70% correct answers to receive CPE credit.

    ATAPU Credit

    Aurora Training Advantage is offering continuing education points designed to recognize dedication to training and excellence in purchasing.