ri.ˈkwest fər prəˈpo.uz.l̩ / Request For Proposal (RFP)
A request for proposal (RFP) is a document that announces details about a project to solicit bids from companies who can support the project.
In most cases, government agencies and other organizations in the public sector utilize an RFP to receive the lowest possible and most competitive bid from contractors.
The project funding document outlines the process for the bidding and terms of the contract. It also covers the guidelines for potential contractors on how they must format and present their bids.
Additionally, the request for proposal must define the nature of the project and the proponent's criteria for evaluating the proposals. They may also include a statement of work that describes the specific tasks required and the timeline for accomplishing the project.
