Family Business Succession Planning

Step Four: Review and Score the RFP Responses


Once the vendors have responded to the RFP, you and your committee must now review and score the responses. One way to “thin the herd” is by generating a list of minimum qualifications that will disqualify a vendor if they cannot comply. After that is done, you and your team need to develop a way to score the left over vendors. A scoring system that we have found helpful is using your list of questions/exepectations to award the vendor point each time they say they can meet one of your expectations. Since the RFP’s are the same for all vendors you will easily be able to see who satisfied the most of your expectations.