The Request For Proposal or “RFP”. It’s often one of the final steps before the true execution of an innovation project begins. Hopefully, at this point, your company has clearly defined the problem they are trying to solve, validated the proposed solution, considered the end-users, and set proper expectations for timelines and costs (if not, perhaps we should revisit the utility of the build workshop phase). With the due diligence done, your firm looks to see who might be the best fit for becoming an innovation partner.
But this stage in itself can have its difficulties.
Often intrapreneurs and team leaders tasked with selecting the appropriate partner may not know the nuances of technical evaluation. They may be overwhelmed by the volume of information thrown at them or perhaps they need a little help judging the proposals effectively.
I have been asked more than a few times to help partners with this step in their innovation journey and each time I recommend a point system. It is critical to apply metrics when scoring these which is why I direct them to the following rubric.
How to Use the Point System
For each bullet point rate the proposal on a 1-10 scale based on the information provided in the applicants’ proposals. Then add those scores for each category and compare them to the other applicants.