Final answer:
A Request for Proposal (RFP) typically includes the system implementation plan, proposed costs, and occasionally, shorter development time, but it does not include an institution's financial statement, as that is an internal document reflecting the organization's financial health.
Step-by-step explanation:
A Request for Proposal (RFP) is a document that an organization publishes to solicit bids from potential vendors for a desired IT solution. The aspects typically included in an RFP are:
- System Implementation Plan: A detailed description of how the vendor plans to implement the solution.
- Proposed Costs: An itemized list of all costs associated with the project, including software, hardware, and service fees.
- Shorter Development Time: While beneficial, shorter development time is not usually a specific requirement in an RFP unless the timeline is a critical factor for the project.
However, an RFP would not typically include an Institution's Financial Statement. Financial statements are internal documents that outline an organization's financial health and are not commonly shared in an RFP since the focus is on the vendor's ability to meet project requirements.