RFP vs. RFQ vs. RFI

 https://www.procore.com/library/rfp-construction#construction-rfps-the-basics

Steps in the RFP Process

1. The owner defines the project details.

2. The owner writes and issues the RFP.

3. The owner publishes and distributes the RFP.

4. Contractors prepare their bids.

5. Contractors submit proposals.

6. The owner evaluates proposals and selects a contractor.

7. The owner and contractor negotiate the contract.

RFPs afford contractors the chance to demonstrate their qualifications and capabilities and articulate how they would deliver the highest and best value for the project.

An RFP typically consists of a project overview encompassing the scope, technical specifications, timeline and budget. It also includes submission guidelines, evaluation criteria and contractual terms. Together, these components offer vital information and guidelines that enable potential bidders to understand the project requirements, craft their proposals and effectively participate in the procurement process.