PM 693 Student Responses

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 respond to the below posts

Student 1

Belinda Schall

PM 693

After reviewing the materials from this week, discuss what is involved in the proposal process and demonstrate a level of understanding of how it’s used in the procurement management process. Ensure you are noting the following:

Give a definition of RFP, IFB, RFQ, and RFI and denote when each is used.

  • Request for Information (RFI)- this is where the buyer requests information from the seller to better understand their capabilities. This is used when there is more information needed on the goods and services to be acquired from the sellers.
  • Request for Proposal (RFP)-This is a formal document with details on how the work will be accomplished, who will do it, resumes, company details, price etc. This is issued by the seller and used to solicit bids to external contractors and vendors that meet all the requirements and needs for the contract.
  • Invitation for Bid (IFB)-the buyer seeks price quotes or bids from multiple sellers. This is used by the buyer to decide which seller to award the contract.
  • Request for Quote (RFQ)- the buyer issues this to the seller and requests a price quote. This is used to get more information on how the vendors will satisfy the requirements and the costs.

What are some of the key factors in presenting a good project proposal?

A project proposal is the ultimate sales document, a condensed version of all the value your solution brings to a client’s problem. The proposal must be tailored to the client’s needs and will clarify how your services can best resolve the client’s problems (Cullen, 2020). Some key factors in presenting a good project proposal include:

  • The content needs to be tailored to the customer’s needs.
  • Persuasive language that takes the reader into consideration.
  • Client focused with their concerns addressed
  • Fair and accurate pricing
  • Keep it brief

A good factor to remember is a proposal is the how the customer sells themself. It needs to grab the attention of the stakeholders when they read your capabilities and what you can offer them as a vendor. Once the proposal is complete it needs to be presented in a meeting if possible that includes all stakeholders to include the project manager.

Cullen, M (2020, June 19) How to Write a Winning Business Proposal.https://www.instructionalsolutions.com/blog/propos…

Larson, E. W., & Gray, C. F. (2021). Project Management: The Managerial Process. New York: McGraw-Hill.

Project Management Institute. (2017). A guide to the Project Management Body of Knowledge (PMBOK guide) (6th ed.). Project Management Institute.

Student 2

Joshua Andersen

Park University

PM693 Human Resource and Procurement Management

Dr. Nickea Harris

Discussion 5

15 September 2022

Executive Summary

Define RFP, IFB, RFQ, and RFI, and when they are used

Procurement management involves much more than just wanting to outsource for supplies or knowledge.  We discussed how procurement management is a process, but what tools can we use for this process?  The RFP, IFB, RFQ, and RFI tools are a great place to start and can display for the rest of the project team exactly what the company is trying to get into.  An RFP or Request For Proposal is a document that gives a better idea to the buyer of what the seller will do to get the job done (Shoaib, 2020).  The RFP is typically the starting point during procurement management just below the RFI, it is an open invitation for companies to tell the buyer more about themselves and try to advance to the next steps (James, 2022).  The IFB or Invitation For Bid would be the logical next step after the RFP, and this is where the seller would give a price for the work they would do, here the buyer can narrow down their list based on budget alone (Shoaib, 2020).  The RFQ or Request For Quote takes the IFB to the next level, in this document the buyer is requesting specific price breakdowns, and the contractor can annotate where funds will be going, for example, how much for hourly rates, and how much for materials (Shoaib, 2020).  The RFI or Request For Information could be used at various stages of a bidding process, they could ask for an RFI before a proposal was even offered so that they could save everyone’s time, they can also request this later in the bidding process to clarify items the buyer has questions on.  Essentially the RFI just calls for information from the seller, typically their capabilities (Shoaib, 2020).

  • An RFP is a Request For Proposal that invites sellers to state why they should be awarded the contract
  • A IFB is an Invitation For Bid that allows the seller to tell the buyer how much it would cost for the desired work
  • A RFQ is a Request For Quote which has the seller breakdown where the money is going in the contracted work
  • A RFI is a Request For Information that can be used at different times in the bidding process to get the buyer additional information

What are some of the key factors in presenting a good project proposal?

Some of the big-ticket items to keep in mind when giving a good project proposal are any problems the team may face, the team’s vision, the benefits of the project, what deliverables are known, success criteria, deadlines, and the budget (Project manager, 2014).  Beyond the actual content of the proposal, much like effective meetings, there are things the presenter needs to keep in mind when delivering the message.  The presenter must understand the needs of the attendee, and what information is relevant to them, they must also understand they need the buy-in of those they are presenting to (Project manager, 2017).  A good proposal starts with being prepared and having the confidence to deliver the intended message, without this even the best project proposal can fail (Project manager, 2017).  Proposals for different things in business are similar, here are some tips I found for delivering research grant proposals that I believe fit our message as well: Identify funding agencies and work to appeal to them, state why the project is needed, get to know whom you are delivering the proposal to, and design appropriate methodology (Blanco & Lee, 2012).  Business jargon may get in the way of delivering a strong message, so the team must take time to deliver items in layman’s terms depending on who is listening to the proposal.  The overall best strategy for delivering a good proposal is tailoring the content to who is listening, preparing in advance, and sticking to what you have prepared.

  • The main keys to a good Project Proposal are
  • Being prepared
  • Understanding the audience
  • Ensuring the message is easy to understand
  • Follow an agenda
  • Appeal to whom you are proposing to

References

Blanco, M. A., & Lee, M. Y. (2012). Twelve tips for writing educational research grant proposals. Medical Teacher, 34(6), 450–453. https://doi.org/10.3109/0142159X.2012.668246

James, M. (2022, August 29). RFP: What a request for proposal is, requirements, and a sample. Investopedia. Retrieved September 15, 2022, from https://www.investopedia.com/terms/r/request-for-proposal.asp#:~:text=RFPs%20are%20used%20for%20complex%20projects%2C%20often%20requiring,outline%20the%20bidding%20process%20and%20the%20contract%20terms.

Project manager videos. (2017, January 9). How to present a Project Proposal – project management training. YouTube. Retrieved September 15, 2022, from 

Project manager videos. (2014, May 19). Project Proposal Writing: How To Write A Winning Project Proposal. YouTube. Retrieved September 15, 2022, from 

Shoaib. (2020, May 22). Procurement documents (RFI, RFP, RFQ, IFB, Loi, PO). PMC Lounge. Retrieved September 15, 2022, from https://www.pmclounge.com/procurement-documents/

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