RFP Module 5 flashcards
RFP Module 5 · Build recall with a focused review session.
32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Request for Proposal
- A formal solicitation that describes requirements, evaluation criteria, and submission instructions so multiple vendors can be assessed on a comparable, documented basis.
- Statement of Work
- The contractual document listing deliverables, schedule, standards, and acceptance criteria that the selected vendor is legally bound to perform.
- Scope of Work
- The RFP section defining what must be delivered, in what quantities, and to what quality standard, forming the basis for pricing and evaluation.
- Mandatory requirement
- A pass/fail condition in the RFP; a proposal that fails any mandatory item is disqualified before weighted scoring begins.
- Weighted evaluation criteria
- Published factors with assigned point values, such as technical approach and past performance, used to convert qualitative judgments into a comparable total score.
- Best and final offer
- A final round inviting revised pricing or terms from all vendors still in competition, used when proposals are close or price remains negotiable.
- Two-envelope bid
- A submission method where technical and price proposals are sealed separately so price stays hidden until technical evaluation is complete.
- Consensus scoring
- A method where evaluators meet to discuss individual scores and agree on a single team score, producing a defensible record of the decision.
- Bid protest
- A formal challenge to a solicitation or award, typically alleging unequal treatment, undisclosed criteria, or evaluator conflict of interest.
- Q&A addendum
- A written clarification issued to all bidders at once during the question window; it becomes part of the RFP and usually must be acknowledged.
- Firm-fixed-price contract
- A contract type used when scope is well defined, placing cost risk on the vendor and giving the buyer price certainty.
- Time-and-materials contract
- A contract type paying for actual labor hours plus materials, suited to uncertain effort but requiring caps and close monitoring.
- Cost-reimbursable contract
- A contract type reimbursing allowable incurred costs plus a fee, used when requirements cannot be defined precisely in advance.
- Past performance evaluation
- Assessment of whether references show similar scope, size, and complexity, plus quality signals such as on-time delivery and corrective actions.
- Debriefing
- A post-award meeting telling an unsuccessful vendor its weaknesses and relative standing without revealing competitors' confidential or proprietary information.
- Standstill period
- A pause between award notice and contract signature that gives unsuccessful bidders a window to challenge before the award becomes irreversible.
- Price scoring formula
- A common method awarding price points as lowest offered price divided by the vendor's price, multiplied by the maximum available price points.
- Market research
- Pre-solicitation investigation of available vendors, pricing, and solutions used to shape realistic requirements before the RFP is drafted.
- Evaluation committee
- A group of scorers with relevant expertise who independently score proposals against published criteria and document the rationale for each score.
- Conflict of interest disclosure
- A required statement from evaluators and vendors identifying relationships that could bias judgment, allowing the buyer to remove or mitigate the conflict.
- Responsiveness
- Whether a proposal complies with the RFP's format, submission, and mandatory requirements; non-responsive proposals are rejected without technical scoring.
- Responsibility determination
- An assessment of whether a vendor has the capacity, finances, and integrity to perform, separate from how well its proposal scored.
- Proposal compliance matrix
- A table mapping each RFP requirement to the page or section where the vendor addresses it, making responsiveness checks faster and more defensible.
- Clarification versus negotiation
- Clarification resolves ambiguity without changing the offer; negotiation alters price or terms and generally must be offered equally to competing vendors.
- Contract award notice
- The formal communication identifying the winning vendor, the contract value, and the basis for selection, triggering debrief and challenge windows.
- Acceptance criteria
- Objective, testable conditions in the statement of work that determine whether a delivered item is formally accepted and payment is triggered.
- Key performance indicators
- Measurable service levels written into the contract, such as uptime or delivery time, often tied to service credits or remedies.
- Liquidated damages
- A pre-agreed sum payable for specified failures such as late delivery, intended to compensate rather than punish and enforceable only if reasonable.
- Proposal validity period
- The stated number of days a vendor's offer remains binding, giving the buyer time to evaluate, negotiate, and award without re-confirmation.
- Bid bond
- A financial guarantee submitted with a proposal that compensates the buyer if the winning vendor refuses to sign the contract.
- Performance bond
- A guarantee securing the vendor's obligation to complete the contract, allowing the buyer to claim if the vendor defaults.
- Lessons learned review
- A post-award retrospective comparing planned versus actual schedule, cost, and vendor performance to improve the next solicitation cycle.