System and method for outsourcing projects

Abstract

A method, system, apparatus, and computer program product for efficiently outsourcing projects, such as software development projects, are presented. A business entity may precisely and succinctly define one or more requests for proposals (RFPs) using predefined service identifiers which specify discrete, short-term projects (e.g., 4 weeks or less) with fixed inputs and outputs and objective evaluation metrics which allow for each project to be evaluated using, for example, automated evaluation software tools. By posting RFPs on a web site, the business entity solicits bids from third party vendors to perform the project identified in the RFP. Since individual projects are identified with objective inputs, outputs, and evaluation metrics, vendors can bid on the project with minimal evaluation and speculation regarding the appropriate bidding price for the project. When a bid is accepted or awarded to a vendor, a contract for the project can be easily prepared using the identifying information for the winning bid, such as the timeline, price, and the specific service identified with the project. Such short timeline projects allow the projects to be concisely described, results returned quickly, shortened evaluation duration, and payment within a normal monthly cycle.