A request for proposal (RFP) is a formal document that organizations use to solicit bids from potential suppliers or service providers. It outlines the project's requirements, objectives, and evaluation criteria, allowing vendors to submit their proposals detailing how they would meet those needs. RFPs are commonly used in various industries, including construction, technology, and consulting. The RFP process helps organizations compare different offerings and select the best option based on factors like cost, expertise, and timeline. By inviting multiple vendors to compete, organizations can ensure they receive competitive pricing and innovative solutions tailored to their specific needs.