Request for Proposal (RFP) is a document that solicits proposal, often made through a bidding process, by an agency or company interested in procurement of a commodity, service, or valuable asset, to potential suppliers to submit business proposals.
See also: RFP.
Procurement staff, project managers, and sponsors use this concept when selecting suppliers, managing contracts, reviewing deliverables, and closing vendor obligations.
Related concepts include Procurement and Vendor.