A recent PricewaterhouseCoopers study suggests that out of 10,640 projects done by 200 companies across the globe, only 2.5% managed to complete 100% of their IT projects. Lack of planning, resources, and activities are some of the reasons for this rate of failure. However, organizations are now working towards reducing the rate of project failure. According to a report by Project Management Institute the project failure rate has substantially reduced from 70% to 55% in 2017. Some of the factors that have contributed to the reduction of failure rate are using a strategic approach to project management and adopting an Agile approach.
RFP is the first step towards starting the journey towards a successful project. From repeated delays in software releases, exceeding budgets to development issues these predictable obstacles can be avoided by writing a succinct request for proposal (RFP).