A. The vendor selection process is preceded by, and is also guided by a cost-benefit analysis. related to the positive impacts of the proposed action(s) are quantified and added together, and all the negatives are similarly noted. The difference between the two is assessed and its significance will help to determine whether the planned action is advisable. In the case of the healthcare organization the cost-benefit analysis will help in deciding whether to upgrade to an electronic health record system or remain paper-based.

A request for information is usually made to obtain information on the products and/or services for which a proposal may eventually be made. This includes information on vendors who can meet certain requirements for delivery of formal services and products.

A request for a proposal seeks to obtain definitive requirements for portions of or all of a project as identified and is specifically related to the procurement of services and/or products required to implement the project.

A request for proposal might be preferred to the request for information because it contains details of the project, and also requests the cost of goods and services inclusive of timelines, required to complete the project.

Bothe the request for information and the request for proposal are often required to provide details of exactly what is to be accomplished and hold performers accountable for the outcome of the project. This includes both internal and external stakeholders.

The RFP must, at a minimum, describe the goods or services to be procured, and identify the
Applicable contractual terms and conditions, the minimum qualifications for the successful vendor and the criteria by which each proposal will be evaluated.

The elements of a request for proposal should include: · An introduction, (Prepared by Project Manager) · General information about the