In the previous blog post, I told you about things to consider while you are writing an RFP for employing a financial model audit services. If you missed it, you can check it out here:

Download the guide and template on how to draft a Request for proposals (RfP) for the appointment of a financial model auditor 

In this blog post I continue with the story but this time we are one step further in the process and we have received proposals from model audit companies. Now we need to review their proposals and rank them based on an evaluation criteria that we have established when we published the RFP and eventually select one of the companies as the selected bidder.

Step 1: First of all, download the consultant bid Scoring template:

Download the consultant bid Scoring sheet 

Step 2: Go to sheet labeled “Questionnaire” and define your evaluation criteria by answering 8 questions directly in the sheet.

Here are the 8 questions:

Step 3: Once you have entered the required information, then the name of the recommended consultant will appear in the summary sheet.

Three charts will also populate the ranking of each of the bidder in terms of they technical, financial and the overall evaluation.