RFPs were once almost exclusively used in the government and non-profit sectors, but they have become popular in the corporate sector. This course describes the request for proposal (RFP) process along with providing recommendations for success in this process.  

This course begins with a description of what should be done before creating the actual RFP package to be sent to bidders (banks). We define the activities and approaches typically taken by RFP issuers. We discuss what is usually behind the initiation of an RFP project. We continue with a review of the required details in the RFP document. We also discuss the approach to take in reviewing the proposals and selecting the final bank or banks.

Learning Objectives
  • Identify the most effective method of handling request for proposal (RFP) projects
  • Recognize the major steps involved with RFPs
  • Identify differences between RFPs and other approaches
  • Discover the activities that must be done to select the finalist(s) and begin implementation
Last updated/reviewed: March 11, 2024
10 Reviews (52 ratings)

Reviews

5
Member's Profile
Good presentation that provided steps to follow, recommendations on questions, keys points on RFP effectiveness, and how to assess bank responses. Lastly, presenter provided many PDF references.

5
Member's Profile
This course helped me understand the basic process of thinking through what the RFP should contain, how to draft it, and then how to evaluate the responses. Very practical.

3
Anonymous Author
The advices are useful and well structured; however, the whole framework is based on common sense and management best practices applying to multiple operational areas.

4
Anonymous Author
Good background for both sides of the RFP process; info on scoring should be helpful in being sure objectivity is in place as decisions are being made

5
Member's Profile
This course provided a comprehensive review and tips for issuing a banking RFP. The supporting materials are also very helpful.

5
Member's Profile
Course was very well organized and gave a very clear overview of best practices for the RFP process.

5
Anonymous Author
Good course, well structured. Instructor gave a clear overview of the RFP process.

3
Anonymous Author
For a non-native English speaker the questions are a bit tricky.

4
Anonymous Author
Course was a comprehensive but efficient overview of RFP's.

5
Member's Profile
Great course! Very informative and helpful.

Prerequisites
Course Complexity: Advanced

Prerequisite: Previous experience in corporate finance

 

Advanced Preparation: None

 

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
Part 1: Before You Tackle The RFP
  Stages and Time Line12:54
  Banking Consolidations, Credit Needs, and Technology Questions7:37
  Benefits, Services, and Planning Wrap Up6:25
Part 2: Putting The RFP Together
  Organizing RFP Packages, Timing, and Focus on Back End 10:14
Part 3: Analysis of Results and Final Decision
  Checking Preferences, Ranking Sections, and Conclusion 11:21
Continuous Play
  Bank RFPs: Strategies for Success49:29
SUPPORTING MATERIALS
  Slides: Strategies for SuccessPDF
  Strategies for Success Glossary/IndexPDF
  PRE-RFP SELF-ADMINISTERED QUESTIONNAIREPDF
  RFP Indicator QuizPDF
  Sample Bank RFP QuestionnairesPDF
  THE REQUEST FOR PROPOSAL (RFP) TIMELINEPDF
REVIEW & TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam