Controlling the Cost of Proposal Review: 48 Hour Due Date
I smiled when I read in the Wall Street Journal about the RFP issued by the Treasury Department for management of the $700 billion rescue plan. The RFP made it clear that only large established firms need apply. And the proposal was due within 48 hours.
RFPs (Requests for Proposal) added “Page Limitations” to reduce the time and expense of reviewing proposals. Proposals had ballooned to massive tomes. However, the outcome wasn’t improved by reviewing such large proposals. Page limitations cut the cost of reviewing proposals and didn’t turn out to reduce the quality of selection.
How would you respond to a shortening of time in which a proposal was due? What kinds of information would be needed in your database? Something to muse about. One never knows when this might just become a feature of upcoming RFPs.
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