1. LTMS 530 Evaluate and Select Products and Applications

2. Topics Criteria for evaluation RFIs,(request for information RFQs, (request for quotes) RFPS (request for proposal) Process of Conducting Bids

3. Criteria for Evaluation Price Quality of Solution Does it meet the intent? Company History (may ask for company financials; how often have the done this for others, ) Time to Deliver (how long to implement) Financial Stability Guarantees

4. Request for Information (RFI) Informal Document (used to determine interest from vendors; lets you know who’s got the product, who’s willing to wok with you; if they are in your budget) Determine Interest from Vendors Get ballpark pricing for Customer (can allow you to seek out others to help lower pricing Prepare Vendor for actual RFQ/RFP (let’s vendor aware of what’s to come;

5. Request for Quotes/Proposals Formal Document Officer(main point of contact purchasing coordinator) Requirements (more defined) Timelines (specific detail) Evaluation Methods (includes rubric on how the proposal will be distributed) Pricing Templates (include an excel spreadsheet – notes taxing)

6. Bid process Determine Requirements Develop Request Document Release Document (generally a one-page summary to start to invite those who want to bid) Conduct Pre-bid Meeting (two weeks after release of full rfp – then allow vendors to ask questions) Cutoff questions (generally answers are sent in writing and dispersed to all bidders) Receive Proposals (evaluation begins; time-stamp receipt and opening) Conduct Vendor Interviews BAFOs ( ask for best and final offer from vendor) Award Contract Negotiate Contract (be sure you are happy with terms andspecifics) Contract Signature