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Management Essays – Business Proposal

719 words (3 pages) Essay in Management

5/12/16 Management Reference this

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Business Proposal

A business proposal is an offer from a seller to a prospective buyer. Proposals can range in size from a one page letter, or price list, to several hundred pages of detailed specifications. In the business sales process, the written proposal is the vehicle that carries the terms of an agreement between buyer and seller, and forms the basis for a subsequent business contract. A legal document binding document is created between the buyer and the seller when a proposed offer is accepted by the buyer.

In complex sales situations, the process of selling can take several weeks, or even months, to complete. In some cases, offer and counter offers will go back and forth. The proposal provides a formal way for both sides to communicate in writing during these negotiations. Prospective buyers sometimes issue a Request for Proposals (RFP), or an Invitation for Bids (IFB), to guide the sellers and provide specific information about what products or services they want. An RFP is a written document that outlines specific information about your organization, the services and products you need, and the specific requirements suppliers must meet to win your business. A written request for proposal increases market awareness of your organization’s needs, thereby increasing the competition to serve those needs and increasing the formality of the relationship between you and the supplier. An RFP places the buyer in control of the desired service levels and related requirements and tells potential vendors up front that your most important concern is the level of customer service you will receive. RFPs can be a lot of work, but they’re worth it. If you were planning on purchasing a learning management system that you hoped to use for five years, it obviously makes sense to find the vendor whose product matches your needs as closely as possible.

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Project risk management seeks to anticipate and address uncertainties that threaten the goals and timetables of a project. The uncertainties may include questions of material and parts quality; delays in delivery of sufficient materials to meet project needs; budgetary and personnel changes; and, incomplete knowledge or research. These risks lead rapidly to delays in delivery dates and budget overages that can severely undermine confidence in the project and in the project manager. Since project risk management is process oriented, it remains possible to have a successful project and an unsuccessful product (for example, an office construction project that meets or beats all time, budgetary, and quality requirements yet opens in a depressed real estate market.) While any project accepts a certain level of risk, regular and rigorous risk analysis and risk management techniques serve to defuse problems before they arise.

The principles of project risk management can be stated very simply. Any project organization is subject to risks. One which finds itself in a state of perpetual crisis is failing to manage risks properly. Failure to manage risks is characterized by inability to decide what to do, when to do it, and whether enough has been done. Procurement refers to the aspects of project management related to obtaining goods and services from outside companies. Some of the roles of procurement agent include planning purchases, acquisions, contracting, requesting sellers’ responses and selecting sellers, contracting administration and closure.A project manager is a specialist in the field of project management. They have the responsibility of the planning and execution of any project, typically relating to construction industry, architecture or software development A project manager’s only duty is to ensure the success of a project by minimizing risk throughout the lifetime of the project. This is done through a variety of methods, both formal and informal. A project manager will usually have to ask penetrating questions, detect unstated assumptions, and resolve interpersonal conflicts, as well as use more systematic management skills.

Reference

  • www.proposalkit.com/htm/business_proposal
  • www.rfp-templates.com/rfp
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