How would you approach writing the RFP requirements to replace a system you are unfamiliar with?
Senior product managers at Coinbase are often involved in buy vs. build and vendor selection initiatives. Interviewers ask this question to assess how a candidate would gather the information needed to drive these important technology solution selection activities when they do not yet have the knowledge to serve as a subject matter expert.
Remember to describe the process of assessing the system that needs to be replaced first. This is a critical step necessary to properly understand the gaps that need to be addressed by the new solution.
"The first step I would take would be to gain access to the current system to learn how it works. I would walk through as much as I could on my own and then reach out to the subject matter experts for a walkthrough. I would note any features that caused problems such as delays, or time-intensive data entry that could be avoided. I would also try to demo the solutions of the vendors that match the general needs of my clients. I would note feature areas that are gaps in the current solution.
Next, I would hold a facilitated session with senior stakeholders, expert users, support staff, and those responsible for the budget for the new system. I would walk them through a brainstorming exercise to define the high-level features we would like to see retained, the issues we would like to avoid, and the gaps we would like to fill. I would also make sure we are clear on the business goals for the replacement project and the budget constraints.
I would then use the information gathered from my research to drive out the required features for the request for proposal document. These would be at a slightly higher level than typical functional requirements, but I would be sure to note any business rules or workflow specifications that are must-haves for the new solution.
Finally, I would author a description of the project to include in the RFP and add it to the requirement list along with the contact information for the project. If necessary, I would also add in any current state technical documentation that would be relevant for the vendors to have."
