TOD 526 

- Project Management
Monsoon 2021 Semester

Group Assignment II

Highlight relevance and importance of Expression of Interest (EOI) and

Request for Proposal (RFP) in Project Management. Discuss key criteria
for selection of appropriate domain experts both at Expression of
Interest and Request for Proposal stage.
GROUP MEMBERS –

Anushka Deshpande AU2016012

Kareena Lakhani AU1813072

Janki Solanki AU1813051

Raj Shah AU1813043

Purvesh Goswani AU2014053

Navneet Patel AU2014041

Khyati Srivastav AU1811419

Contents
BRIEF DESCRIPTION OF THE SELECTED TOPIC............................3
EOI (Expression of Interest)..................................................................3
RFP (Request for Proposals)..................................................................3
PURPOSE AND USE:.............................................................................4
Format of EOI........................................................................................4
Elements of RFP....................................................................................5
IMPORTANCE OF EOI & RFP..............................................................7
Key criteria for EOI and RFP...................................................................9
CONCLUSION.......................................................................................12
BRIEF DESCRIPTION OF THE SELECTED TOPIC 

EOI (Expression of Interest)

 An EOI (Expression of Interest) – frequently done in the beginning phases of the

obtainment cycle – might be delivered if the purchaser is searching the market for
expected suppliers or looking for industry input into checking necessities that will then, at
that point, return out to advertise later on.
 Expressions of Interest are helpful when the quantity of players, market size or the way to
deal with solving an issue is generally obscure. An Expression of Interest (EOI) is
essential for the capability interaction to get a delicate report. The Buyer (the public
authority or private association requesting the reaction) is mentioning the
supplier/workers for hire (you) to communicate an interest in giving labor and products to
an undertaking, for example, a development work. 
 An EOI is regularly the initial phase in a multi-stage delicate interaction whereby more
point by point demands for proposition or delicate are given to the shortlisted or enrolled
suppliers.
 An EOI regularly looks for data from the supplier that exhibits the ability to play out an
agreement and can bring about the supplier entering an arrangement for an agreement or
being shortlisted for an ensuing delicate. 

RFP (Request for Proposals)

 A RFP (Request for Proposal) is the next stage in the procurement process where the
purchaser goes to showcase for arrangements situated ways to deal with administration or
item conveyance. Much of the time EOIs and RFPs have been pre-planned and
determined because of huge measure of discussion, commitment and fundamental plan
work.
 RFPs then again, accommodate more prominent adaptability. This arrangement is
frequently utilized in the expert administrations area (like innovation, enrollment,
environmental counseling and creative industries areas) where there are numerous
choices and a variety of potential solutions.
  RFP project the board carries request to the data, errands and individuals associated with
the RFP reaction measure. Besides, it lays the foundation for executing a quicker, simpler
and more successful cycle. 
 In project the executives, RFP represents demand for proposal. A RFP is a formal request
sent from a purchaser to potential sellers looking for an item, administration or
arrangement.
 The RFP document asks all vendors similar inquiries. Then, at that point, intrigued
vendors present their replies with regards to a proposition record for thought. This
approach advances straightforwardness and reasonableness while empowering purchasers
to settle on information driven buying choices utilizing reliable measures.

PURPOSE AND USE:

 Several choices made by an association have buying, obtaining or procuring implications

that can significantly influence the total cost of making a particular decision.
Procurement requires procedures like that of selecting a supplier or dealer, outlining
terms of payment, screening, contract negotiation, and buying outsourcing services and
goods. It is linked to the obtaining or acquiring of all services and goods that are vital for
any company organization
 In the private division, the method of procurement is regarded as a strategic-level purpose
that supports in enhancing the productivity of a company. Not only does it simplify the
procedures and reduce the overall cost of resources, but it also allows companies to
recognize the top sources of supply. All in all, it is effective in guaranteeing a smooth-
running of an organization.
 In the public-sector, high-ranking officials are accountable for lessening the bottom line.
Not many employees cope with the procurement task, which raises the possibility of
exploitation in this segment. Therefore, the need to pick the best of the sources and
suppliers also increases.
 EOI and RFP are the most commonly used terms in the procurement event, and each of
them has a certain role in streamlining the whole procedure.
 
Format of EOI

Cover: cover page consisting of project title, name of the assignment, organisation’s name, logo
and contact information
Cover Letter (content similar to an executive summary of the EOI): 1–2-page cover letter with
key words in bold.
  Opening paragraph properly referencing project name/number and asserting the
company's interest to carry out the project.
 1-2 paragraphs about the company, its principal focus of business, and its significant
credentials for the project.
 1-2 paragraphs emphasizing related project involvement.
 1 paragraph underlining one or two specifically competent and eligible staff.
 1 paragraph expressing knowledge of the project's intent, goals, and development
framework.
 1-2 sentences recognizing related local specialists.
 Closing paragraph reaffirming why the company should be short listed and clearly
expressing the company's interest to be on the short list.
 Name and title of a senior executive of the organization and signature.

Elements of RFP

Outline or Intro 

 Consider this segment the digests you used to incorporate when composing understudy
tasks. It gives brief data about the organization, task, and necessities. The objective is to
intrigue possible sellers and simultaneously drive away those that can't live up to your
desires. 
Company Background 

 A solicitation for a proposition should begin with an outline of your organization. Every
candidate needs to find out about the organization requiring their items and
administrations. You can incorporate a short history yet centre around your
administrations and what makes you hang out on the lookout. For what reason is your
business one of a kind? Most sellers painstakingly read RFPs, and they send offers to
organizations that have comparable qualities to theirs. It is the reason be straightforward
and talk concerning what you esteem in working together. That will expand the odds of
discovering somebody that lives up to your desires, which will make the functioning
system more charming.

Objectives and Target Audience 

 Potential candidates think about this critical data in a solicitation for proposition. It is
justifiable why as it tells them more with regards to the arrangement, they are relied upon
to offer. Start by portraying a specific issue that you need assistance settling. In the event
 that the arrangement you have right now isn't working, clarify why and be explicit. You
don't need to portray the arrangement you need since it probably won't be the most ideal
way of settling the issue. All things being equal, centre around the actual issue and deal
however many subtleties as could be allowed. Also, you can portray what you need to
achieve with the arrangement – is it expanded traffic, drawing in more customers, or
further developing efficiency. At last, notice the ideal interest group of the task. That will
help the sellers to offer an answer that is more fitting to yours and your crowd's
necessities. 
Yours Expectations 

 The segment where you depict the extent of work ought to be broad and precisely portray
what you anticipate from the venture and the merchant. You might have to contribute a
smidgen additional time inlets investigate a portion of the things you can include: 

Project and Proposal Timeline 

 These are the two time spans you need to remember for your RFP. While indicating the
task timetable, remember why you need to have everything finished by that specific date.
Do you have another item you are dispatching and need the venture to be accessible on
time? An expression of exhortation – dependable sellers will put forth a valiant effort to
respect your time span. Be that as it may, things can generally turn out badly, which is the
reason you should give an additional a few days or weeks when arranging the course of
events. You don't need to let the candidate know that additional time can be allowed if
necessary – consider it a well being net. Once you have the task timetable as a main
priority, feel free to settle on a time span for the proposition. Contingent upon the size of
the venture, you can give the potential candidates several days or weeks. 
Budget 
 Ponder the amount you will put resources into an undertaking. You can utilize one of two
methodologies – either offering a decent (value range) or hourly coordinated effort. It
very well might be precarious, yet you should make a precise gauge of how much your
undertaking could cost. Be reasonable, and offering a more liberal financial plan may
draw in top-quality suppliers. 

Proposal Structure 

 The last significant component you ought to remember for your RFP is the proposition
structure. It portrays the structure and design of recommendations the candidates ought to
convey. Do you favour perusing recommendations in PDF organization or you are
accustomed to adding remarks to a Word archive? Is there a requirement for the merchant
to convey you a printed proposal? As for the design, track down an ideal one as it will
 make looking at the proposition more sensible. You ought to request that they give data
on their organization, just as some past projects they dealt with. Go ahead and request
tests of comparative activities or even references from previous clients. Next, request the
candidates to completely portray the cycle from improvement, financial plan, and course
of events. Think about asking explanation on how and where the task financial plan will
be contributed. In the event that you think it is vital, you can request insights regarding
the individuals who will deal with the venture. That can assist you with checking whether
you are managing an accomplished ability or amateurs. 

IMPORTANCE OF EOI & RFP

 The Expression of Interest is an opportunity for interested parties to reply with the
requested information so that they may be informed about future proclamations linked to
the project, including the competitive assortment procedure. However, that replying to an
EOI is not a precondition to contributing to the competitive assortment process and does
not indicate any binding obligation by any party.
 RFPs are crucial in project management as they help keep project supervisors organized
and support them to make critical business decisions. Each RFP plans diverse vendor
options complete with details on pricing, phases in the process, contract terms and more.
 Through this RFP, project managers can scrutinize the information to determine the best
path forward on behalf of their companies. It is up to the project administrator to select
the RFP that best fits with the project and its goals to select the perfect vendor for the
project.
 An EOI and RFP may serve much importance. The following are some of the reasons that
use an EOI and RFP:
 To Develop a clear vision

It is necessary to develop a clear vision during the pre-project development phase which
talks about requirements or demands for a project. An EOI not only evaluates whether or
not a market exists for the project but can be served as a vehicle to ask for feedback on
how to polish its vision so that it meets the requirements of the target audience and
possibly generates even better interest.
For example, an EOI may be sent out to potential occupants of a building to determine
the space requests of the interested parties. This provides an understanding of how to plan
the outline and design of the space in order to maximize interest in leasing or purchasing
the proper space once the project is ongoing.

 To Stimulate Interest and Examine the Market for Interested Parties

In some examples, an EOI and RFP can act as a market research instrument. When
evaluating the project’s ability to fascinate interested parties for individual projects, the
EOI serves as an instrument to excite interest and assess which competent organizations
might respond to the opportunity at a later phase in the obtaining process.
This knowledge can support assessment of the viability of the project. Put it another way,
if an EOI obtains an overwhelming number of responses, this is a reliable indicator of a
solid market base for the project.
  To Align Project Requirements and Respondent Capacity

By aligning project needs and the respondent’s capacity, any loopholes in the EOI
process are alleviated. On one hand, the EOI is a basic way to recognize who will be
qualified for the competitive assortment process in the future, demonstrating whether the
respondent can meet the eligibility necessities and has the financial capacity to
participate. On the other hand, the EOI can serve as an occasion to measure respondents’
interests and alter the project requirements accordingly for the next stage in the
procurement process. 

 RFP to boost competition to drive down the cost

 
Any organization can also release the RFP to boost competition to drive down the cost of
a pre-planned project. Here, a proposal is being accepted based on the most responsive to
the RFP's specifications and eligibility criteria which may not always be the lowest-
priced offer. As many corporations will be competing for business with the company
delivering the RFP, it is vital for vendors to bid winning RFP opportunities.

 Indirect Advertisements to stakeholders

Stakeholders are essential to an organization since they include everybody in the

organization that you want to convey necessary services to. The EOI and RFP are good
signs that the company is going to expand its operations. Through this process, the
company attracts investors, creditors and potential customers indirectly. Stakeholders see
better prospects for the company. That’s how the EOI and RFP act as advertisements to
invite potential stakeholders to the company.

Key criteria for EOI and RFP

 The selection criteria for consultancy firms of EOI and RFP can vary as per the kind of
industry or the requirements of the company. These criteria’s determine if the
consultancy firm or the consultant is eligible for the role or not. 
 The selection process at EOI level considers some of the basic and general information of
the firms. If we were to divide the criteria into an assessment of 100 marks then some of
the most important and generally followed criteria for EOI would be as follows:
 Number Criteria  Weightage

1 Past Experience 60 Marks

Number of years of experience   20%

Experience of assignments of similar nature 50%

Past experience in assignment of similar industry 20%

Assignments done in India 10%

2 Experience of Key Personnel 25 Marks

Qualifications 30%

Relevant Experience 70%

3 Financial Strength of the Consultant 15 Marks

Last three years Turnover 50%

Last three years Profit 50%

1. Past experience of the consultant 

The past experience is essential as it gives the consultant an insight of how to operate in the
given field, it also reassures the company. This criterion is the most important one as it alone
carries a weightage of 60% while making a decision.
In this category the information expected includes:
 Number of years of experience  
 Experience of assignments of similar nature
 Past experience in assignment of similar industry
 Assignments done in India

From a company’s point of view, the consultant should be highly experienced with the industry,
the type of assignment as it gives room for them to point towards any irregularities in the
assignment. They can also warn of upcoming risks, their experience reflects their expertise.it is
also essential if they have experience in the Indian industries, due to the macro factors such as
politics, economics, rules and regulations, etc. 

2. Experience of the key personnel

Adding on to the experience, the experience of the key person in charge of the consulting should
also hold Relevant Experience and Qualifications. It is important that the person in charge,
leading the project from the consultancy firm should also have enough knowledge about the
project and enough experience and technical and managerial capacity to lead the project and
handle the team and also communicate with the organization efficiently about the progress of the
project. 

3. Financial capacity

Along with the two factors mentioned above, financial capacity of the firm is also crucial. The
firm must have the financial resources in order to complete the project in time. Even if the
consultancy firm has good experience and the key personnel are efficient, if the firm lacks
financial capacity, it will not be able to complete the project. 
This criterion assesses their financial capacity by asking them about their turnover and net profits
of the last three years, both of these are equally important. If they are in good numbers and if the
company is profitable, it shows that they would be a good fit for the job due to their efficiency. 

Sometimes the companies make some amendments or add certain limits to these criteria’s, such
as Minimum Turnover, Minimum years of experience etc. This makes the requirement for EOI
specific and reduces the number of applications, which makes the process a little easier. This is
usually done in a high valued assignment.

The key criteria RFP process will include a detailed list of details, generally specific to the
particular firm to whom the proposal is requested. The key criteria for RFP are also quite similar
to that of EOI. It is as follows:

Criteria Weight-age

Consultant’s Experience 15-20%

Methodology and Work Programme 40-60%

Adequacy of key Personnel 25-30%

 The consultant’s experience carries lesser weight-age here as compared to EOI as this
process takes place after EOI; however it might still be necessary to evaluate which
consultancy firm is more experienced.
  The methodology and work programme is the most important factor here, as it would
determine how the consultancy firm would work upon this assignment. This will also let
the company know what their best fit is by evaluating if both parties can work in a similar
fashion without clashes.

 Lastly, the adequacy of the key personnel will attempt at gauging whether they will be
able to lead the assignment and have necessary skills and qualifications for the same. 

 Both these criteria’s can be altered to fit the needs of the company, new mechanism and
requirements can be introduced so that the process is hassle free and more efficient and
the company can find the ideal consultancy firm. 

CONCLUSION

EOI & RFP are two initial steps that should not be skipped while outsourcing. It helps to study
the potential consultancy firms and select the best of the lot for the organization and the project.
While re-appropriating an undertaking, accomplice a gifted and solid supplier that can meet and
surpass your assumptions. An appropriately composed solicitation for proposition (RFP) is the
most ideal way of discovering one. Adding all significant insights concerning your organization
and the venture will show you the way to distinguishing a reasonable supplier. Making a point by
point and compact RFP can be very overwhelming. Notwithstanding, it saves a great deal of
improvement time, which diminishes the general task cost. Draw in Group is knowledgeable
about counselling and can assist you with figuring out how to adapt to this readiness venture
prior to getting down to fostering the undertaking. In case you are searching for a confided in IT
merchant, Attract Group is exactly what you need.