How Does Selection Timeline Work?
Definition
Schedule for final vendor selection including shortlist creation, executive presentations, negotiations, and contract execution. Selection timelines follow initial evaluation, typically requiring 2-4 weeks for finalist demonstrations, reference checks, contract negotiation, legal review, and final approval. Organizations should plan adequate time for thorough vetting while maintaining vendor engagement and meeting implementation start date commitments.
Why This Matters
Selection phase requires adequate time for finalist vetting while maintaining momentum. Selection typically requires 2-4 weeks for demonstrations, reference checks, contract negotiation, legal review, and final approval. Organizations should plan adequate time for thorough vetting while maintaining vendor engagement and meeting implementation start dates. Compressed selection increases decision risk.
Related Terms
Showing semantically related terms from our RFP knowledge graph. Priority connections are highlighted.
Essential Connections
Vendor Selection
Vendor Management & Evaluation
The systematic process of evaluating and choosing software vendors based on product capabilities, security compliance, implementation support, company stability, and pricing.
Evaluation Timeline
Vendor Management & Evaluation
Schedule for reviewing vendor responses, conducting demonstrations, and selecting finalists.
RFP Timeline
RFP Fundamentals
The schedule for RFP activities including document creation (1-2 weeks), vendor outreach (1 week), Q&A period (1 week), response time (4-6 weeks), evaluation (2-3 weeks), and final selection (1-2 weeks) totaling 10-15 weeks for complete procurement.
Procurement Timeline
RFP Fundamentals
Schedule from procurement initiation through vendor onboarding including key milestones and deadlines.
Contract Execution
RFP Fundamentals
Formal signing and activation of contract between buyer and vendor.
Contract Negotiation
Pricing & Total Cost
The process of finalizing terms with the selected vendor including pricing adjustments, SLA modifications, customization scope, payment terms, and exit clauses.
Vendor Onboarding
Pricing & Total Cost
The structured process of integrating a selected vendor including contract execution, system access provisioning, stakeholder introductions, kickoff meetings, and project plan finalization.
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