Request for Proposal (RFP)-Strategic Plan and Investment Readiness Strategy
Request for Proposal (RFP) - Implementation Plan for the Igbo Cultural Association of Edmonton Strategic Plan and Investment Readiness Strategy for Igbo Credit Union and Skill Training Center
INTRODUCTION
The Igbo Cultural Association of Edmonton (ICAE) is a non-profit organization that aims to promote and preserve the Igbo cultural heritage within the Edmonton community. The organization recently completed a strategic plan that outlines its goals and objectives for the next five years. Additionally, the ICAE is seeking to establish an Igbo Credit Union and Skill Training Center to support the community's economic empowerment and development.
PROJECT OVERVIEW
The Igbo Cultural Association of Edmonton has recently completed a comprehensive strategic plan. This RFP aims to seek a qualified consultant or firm to develop an implementation plan based on the strategic objectives outlined in the plan. Additionally, the proposal should include the preparation of an investment readiness strategy, including a business plan, for the proposed Igbo Credit Union and Skill Training Center.
OBJECTIVES
The main objectives of this RFP are as follows:
• To effectively implement the strategic plan of the Igbo Cultural Association of Edmonton, ensuring alignment with the organization's vision and mission.
• To develop a comprehensive business plan for the proposed Igbo Credit Union and Skill Training Center, outlining its feasibility, financial projections, and operational strategies.
• To provide an investment readiness strategy, including recommendations for securing funding and partnerships to support the establishment and growth of the Igbo Credit Union and Skill Training Center.
SCOPE OF WORK
The selected consultant or firm will be responsible for the following tasks:
1. Reviewing the recently completed strategic plan of the Igbo Cultural Association of Edmonton and conducting a comprehensive analysis to
identify key objectives, milestones, and implementation priorities.
2. Develop an implementation plan for the ICAE's strategic plan, including specific action plans and timelines for achieving the goals and objectives outlined in the plan.
3. Conduct a needs assessment for the proposed Igbo Credit Union and Skill Training Center to identify the key services, products, and training programs needed to support the economic empowerment and development of the Igbo community in Edmonton.
4. Develop a comprehensive investment readiness strategy, including a business plan, for the proposed Igbo Credit Union and Skill Training Center that outlines the following:
■ Market analysis and competitive landscape.
■ Financial projections, including revenue and expense forecasts, break-even analysis, and funding requirements.
■ Governance structure and management team.
■ Risk assessment and mitigation strategies.
■ Marketing and outreach plan to attract investors and potential members.
5. Conduct stakeholder consultations and engagement with the ICAE board, members, and community stakeholders to ensure the implementation plan and investment readiness strategy align with the community's needs and expectations.
6. Provide ongoing support and guidance to the ICAE during the implementation of the strategic plan and establishment of the Igbo Credit Union and Skill Training Center.
7. Provide regular progress reports to the Association's Board
PROPOSAL REQUIREMENTS
Interested consultants are invited to submit proposals that include the following information:
1. Executive Summary: Provide a brief overview of your understanding of the project objectives and summarize your proposed approach.
2. Organizational Profile: Provide information about your organization, including its background, relevant experience, and expertise in strategic planning, business development, and community empowerment projects.
3. Methodology: Outline your proposed methodology, including the steps you will take to develop the implementation plan and investment readiness strategy. Highlight any innovative approaches or tools you intend to employ.
4. Work Plan and Timeline: Present a comprehensive work plan that includes key activities, milestones, and timelines for the project. Ensure that the plan aligns with the organization's expectations and desired outcomes.
5. Budget: A proposed budget for the project, including a breakdown of costs by task and deliverables.
6. Team: The names and qualifications of the consultant's team members who will be involved in the project.
7. Reference: Two references from previous clients who can attest to the consultant's ability to complete similar projects successfully.
PROPOSAL SUBMISSION
Interested consultants should submit their proposals electronically to the Igbo Cultural Association of Edmonton's Board via email at info@icaedmonton.com. Attention: Empowerment Project Implementation Committee. Late submissions will not be considered.
EVALUATION CRITERIA
Proposals will be evaluated based on the following criteria:
1. Experience and qualifications of the vendor in developing strategic plans, business plans, and investment readiness strategies.
2. Methodology and approach to the project and the proposed timeline and deliverables.
3. Demonstrated knowledge and understanding of the Igbo community and its economic development needs.
4. Cost-effectiveness and value for money.
5. Quality of references provided.
SELECTION PROCESS
The Igbo Cultural Association of Edmonton's Board reserves the right to reject any or all proposals, waive any irregularities or informalities in the proposals received, and award the contract in the association's best interest.
PROJECT TIMELINE
The deadline for proposals is June 2, 2023. The ICAE aims to select a vendor by June 16, 2023, with the project's implementation starting on June 26, 2023, and completion by March 31, 2024.
QUESTIONS AND CLARIFICATIONS
All questions and clarifications regarding this RFP should be emailed to ICAE Board at info@icaedmonton.com Attn: ICAE Empowerment Project Implementation Committee.
The ICAE looks forward to receiving proposals from qualified consultants who share our commitment to ensuring that the Igbo Community in Edmonton has the sustained resources required to make a meaningful impact on the Alberta economy.
Sincerely,
Empowerment Project Implementation Committee
Igbo Cultural Association of Edmonton