Request for Proposal (RFP)

A formal document that asks potential vendors for detailed proposals, including, usually, a price.

A request for proposal (RFP) describes the expectations for your new project and invites vendors to explain how they'd deliver it and what it would cost. It's more involved than a request for information (RFI), which gathers high-level details to narrow the field of potential vendors. An RFP expects real, comparable bids you can choose between. The quality of the proposals you get back depends on how clearly you describe your scope going in, since a vague RFP produces vague answers and wildly different prices.