Request for Proposal

A Request for Proposal (RFP) is a formal document issued by an organization seeking to source a product, service, or solution. It details the project's requirements, goals, and expectations, inviting qualified vendors or suppliers to submit their detailed proposals explaining how they can meet those needs. The organization reviews these proposals and selects the best fit based on criteria like price, expertise, and approach. RFPs help organizations compare options transparently and ensure they choose a provider that aligns with their goals and budget.