An RFP (or Request for Proposal) is a document created by a business that is looking to purchase something. The RFP details the specifications of what the business is looking for and is usually done to get several companies bidding on the project, which helps produce more competitive rates.

RFPs are used in many projects including event planning. When organizing a large-scale event, you may often hear RFPs discussed for hotels, conference locations and speakers. The process of doing an RFP is very helpful because it allows you, as the event organizer, to truly focus your needs and wants. It also allows companies who want to work with you to understand exactly what you are trying to accomplish and how they might be able to help you achieve that.

A good RFP is well-organized and very detailed. It will contain most if not all of the following sections:

Introduction

Explain to potential bidders why you are creating an RFP and what you hope to achieve by doing so. Include a description of the overall purpose of the project and a summary of the key points found in the rest of the document. For example, if your company is hosting a staff retreat and you are doing an RFP for hotel accommodations for the attendees, you will want to include the number of individuals who will need rooms, the dates of the event, where the daily activities will take place, and what the over requirements are for the hotel.

Requirements

Here is your opportunity to get specific. List out everything that is essential. Also, include additional features that are not necessarily essential but be sure to designate that they are optional. Continuing with our previous example, you would list the size of rooms you are looking for, quality you require, amenities you would like available, access to public transportation needed, proximity to airport and/or other specific locations, etc.

Selection Criteria

Be sure to outline how you are going to determine which bid wins. It is typically safe to simply say "The winning bid will be based solely on the judgment of our company". However, you can get as detailed as you'd like to help let bidders understand what the most important factors are (price, quality, location, etc).

Timelines

Include an exact date for when bids are due. This will let bidders know how long they have to work on the request. Remember to be reasonable in your request. Don't demand that people respond in 24 hours. The more complex the project, the more time you need to allow. Work this into your initial work schedule so you don't fall behind and have to force others to rush. Additionally, provide them with a date by which they can expect to know if they won the bid. Again, be reasonable. Don't make them wait weeks and don't wait until the last minute.

Once you have written the RFP, decide which companies you would like to send it to. Remember that you don't have to stick to large, established businesses. You may find more competitive rates and features from smaller companies looking to win your business. Typically, RFPs are sent via mail but it's not a requirement. You can also send an RFP electronically if you know the appropriate person to send it to.