What is RFI? RFI Review, Features

RFI=Request For Information is a project management term, a request document used to obtain general information about products, services, or suppliers. This is a request for information and cannot be a constraint on suppliers or purchases. It is usually used before a purchase request.

About RFI

RFIs are primarily used to gather information to help decide on the next steps to take. As such, an RFI is rarely the final stage, but is often used in conjunction with: Request for Proposal (RFP), Tender (RFT), and Request for Quote (RFQ). In addition to gathering basic information, RFIs are often used to send out solicitations to a broad group of potential suppliers, to condition supplier minds, develop strategies, build databases, and prepare for an RFP, RFT, or RFQ.

RFI Analysis

Purpose: To obtain information related to products, services, and suppliers;

Conditions of use: Applicable before specific application;

Flexibility: informal, not tendered;

Results: catalogues, price lists and product information;

Advantages: simple and fast;

Disadvantages: No targets identified, RFQ or IFB still required.

Information collected includes

Suppliers include: facilities, financial status, attitudes and motivations;

the state of the supply market;

Supply market dynamics;

trends and factors driving change;

alternative pricing strategies;

supplier competition;

the breadth and breadth of the product/service offerings provided by the supplier;

Supplier strategic priorities, business and product plans.

history

In the early 2000s, many companies began using various construction management applications, including document management platforms, to manage the RFI process. This helped construction professionals save time, reduce costs, achieve error-free projects, and improve quality.