# How Should a Firm Weight Functional versus Technical Criteria in a PMS Rfp? ▴ Question

**Published:** 2025-08-09
**Categories:** Question

---

![Precision metallic mechanism with a central translucent sphere, embodying institutional RFQ protocols for digital asset derivatives. This core represents high-fidelity execution within a Prime RFQ, optimizing price discovery and liquidity aggregation for block trades, ensuring capital efficiency and atomic settlement](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-prime-os-execution-hub.jpg)

![A symmetrical, intricate digital asset derivatives execution engine. Its metallic and translucent elements visualize a robust RFQ protocol facilitating multi-leg spread execution](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-best-execution.jpg)

## Concept

The selection of a [Portfolio Management System](https://prime.greeks.live/area/portfolio-management-system/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) (PMS) represents a pivotal decision for any investment firm, shaping its operational efficiency, scalability, and ultimate capacity for alpha generation. The process, typically formalized through a Request for Proposal (RFP), requires a disciplined evaluation of vendor offerings. At the heart of this evaluation lies the critical task of assigning appropriate weights to functional and [technical criteria](https://prime.greeks.live/area/technical-criteria/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite). This is not a simple tallying of features against specifications; it is a profound strategic exercise in aligning the firm’s core operational realities with its future technological ambitions.

[Functional criteria](https://prime.greeks.live/area/functional-criteria/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) define the system’s tangible, user-facing capabilities. These are the tools that portfolio managers, analysts, and operations teams interact with daily. They encompass the entire investment lifecycle, from order creation and portfolio modeling to performance attribution, risk analytics, and [client reporting](https://prime.greeks.live/area/client-reporting/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite).

A system rich in functionality empowers users with the specific workflows and analytical depth required to execute their strategies effectively. Neglecting these criteria results in a system that, despite its technical elegance, fails to meet the fundamental business needs of the firm, leading to inefficient workarounds, user frustration, and a direct impedance on the investment process.

> A firm’s unique operational DNA must be the primary driver in weighting PMS criteria, ensuring the chosen system is an extension of its strategy, not a constraint upon it.

Conversely, technical criteria pertain to the underlying architecture and non-functional attributes of the system. These elements, while less visible to the end-user, are the bedrock of the platform’s long-term viability. They include considerations such as [system architecture](https://prime.greeks.live/area/system-architecture/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) (e.g. cloud-native vs. on-premise, microservices vs. monolithic), [data integration](https://prime.greeks.live/area/data-integration/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite) capabilities via APIs, security protocols, scalability to handle growth in assets and complexity, and the vendor’s technology roadmap.

Overlooking technical criteria can lock a firm into a system that is difficult to maintain, unable to integrate with other critical applications, vulnerable to cyber threats, or incapable of scaling with the firm’s success. The result is a brittle, expensive, and ultimately obsolete platform that creates significant operational risk.

The challenge, therefore, is one of calibrated balance. The weighting process must be a bespoke reflection of the firm’s identity. A quant-driven hedge fund with a heavy reliance on proprietary models and high-frequency data will naturally place a greater emphasis on API accessibility and system performance.

A traditional wealth manager focused on high-touch client service will prioritize sophisticated client reporting and CRM integration. The weighting exercise forces an institution to codify its own identity and strategic priorities into a quantifiable evaluation framework, transforming the RFP from a mere procurement document into a declaration of its operational philosophy.

![A meticulously engineered mechanism showcases a blue and grey striped block, representing a structured digital asset derivative, precisely engaged by a metallic tool. This setup illustrates high-fidelity execution within a controlled RFQ environment, optimizing block trade settlement and managing counterparty risk through robust market microstructure](https://options.greeks.live/wp-content/uploads/2025/08/precision-engineered-institutional-digital-asset-derivatives-rfq-execution.jpg)

![A precision-engineered component, like an RFQ protocol engine, displays a reflective blade and numerical data. It symbolizes high-fidelity execution within market microstructure, driving price discovery, capital efficiency, and algorithmic trading for institutional Digital Asset Derivatives on a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/07/high-fidelity-execution-engine-core-for-institutional-digital-asset-derivatives-rfq-protocol-price-discovery.jpg)

## Strategy

Developing a strategic weighting framework for a PMS RFP requires moving beyond a simple checklist to a nuanced, multi-dimensional analysis of the firm’s specific context. The optimal balance between functional and technical criteria is not universal; it is a direct derivative of the firm’s investment strategy, operational complexity, technological maturity, and growth trajectory. A disciplined approach involves internal discovery, stakeholder alignment, and a clear-eyed assessment of priorities.

![A translucent sphere with intricate metallic rings, an 'intelligence layer' core, is bisected by a sleek, reflective blade. This visual embodies an 'institutional grade' 'Prime RFQ' enabling 'high-fidelity execution' of 'digital asset derivatives' via 'private quotation' and 'RFQ protocols', optimizing 'capital efficiency' and 'market microstructure' for 'block trade' operations](https://options.greeks.live/wp-content/uploads/2025/07/precision-rfq-engine-for-digital-asset-derivatives-best-execution.jpg)

## The Firm Identity Matrix

Before any weights can be assigned, a firm must first map its own identity. This can be conceptualized through a matrix that plots the firm’s primary source of competitive advantage against its operational scale. By identifying its position within this matrix, a firm can establish a baseline for its weighting philosophy.

- **Boutique, Alpha-Driven Managers** ▴ These firms often live or die by their unique investment process. For them, functional criteria that directly enable their specific workflows ▴ be it complex derivatives modeling, alternative data integration, or bespoke performance attribution ▴ are paramount. Technical aspects like scalability may be secondary to the immediate need for functional fit.

- **Large, Diversified Asset Managers** ▴ At scale, operational efficiency and robustness become as important as specific functionalities. These firms require a platform that is technically sound, highly scalable, and easily integrable into a complex ecosystem of existing systems. While a broad range of functional capabilities is necessary, the technical ability to deliver them reliably across thousands of portfolios is a primary concern.

- **Quant-Centric Hedge Funds** ▴ For these firms, the line between functional and technical blurs. The “function” is often the ability to interact with the system programmatically. Therefore, technical criteria such as API latency, data throughput, and the ability to deploy proprietary code within the system’s environment are of the highest importance.

- **Wealth Management and Family Offices** ▴ These institutions are defined by their client relationships. Consequently, functional criteria related to client reporting, CRM integration, and customized portfolio views often receive the heaviest weighting. Technical reliability is important, but the features that enhance the client experience are the key drivers of value.

![A sleek cream-colored device with a dark blue optical sensor embodies Price Discovery for Digital Asset Derivatives. It signifies High-Fidelity Execution via RFQ Protocols, driven by an Intelligence Layer optimizing Market Microstructure for Algorithmic Trading on a Prime RFQ](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-high-fidelity-execution-engine-optimized-rfq-protocols-prime-os-intelligence-layer.jpg)

## A Quantitative Weighting Model

Once the firm’s strategic posture is understood, a quantitative scoring model can be developed. This process translates qualitative needs into a defensible, objective evaluation framework. The search results highlight that a weighted scoring approach is a common best practice. This involves breaking down the RFP into sections, assigning a weight to each section, and then scoring vendor responses against the criteria within.

The following table provides a strategic template for how different firm types might approach this weighting. The key is not the specific numbers, but the logic behind the allocation, which directly reflects the firm’s strategic priorities.

### Table 1 ▴ Sample Strategic Weighting by Firm Archetype

| RFP Criteria Category | Boutique Alpha-Driven Manager (%) | Large Diversified Asset Manager (%) | Quant-Centric Hedge Fund (%) | Wealth Management Firm (%) |
| --- | --- | --- | --- | --- |
| Functional Criteria | 60 | 45 | 35 | 65 |
| Core Portfolio Management & Accounting | 20 | 15 | 10 | 20 |
| Advanced Analytics & Risk Modeling | 25 | 15 | 10 | 15 |
| Client Reporting & CRM | 5 | 10 | 5 | 25 |
| Compliance & Regulatory | 10 | 5 | 10 | 5 |
| Technical Criteria | 40 | 55 | 65 | 35 |
| System Architecture & Scalability | 10 | 20 | 20 | 10 |
| Data Integration & API Access | 15 | 15 | 30 | 15 |
| Security & Disaster Recovery | 10 | 15 | 10 | 5 |
| Vendor Viability & Roadmap | 5 | 5 | 5 | 5 |

![A futuristic, intricate central mechanism with luminous blue accents represents a Prime RFQ for Digital Asset Derivatives Price Discovery. Four sleek, curved panels extending outwards signify diverse Liquidity Pools and RFQ channels for Block Trade High-Fidelity Execution, minimizing Slippage and Latency in Market Microstructure operations](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-platform-2.jpg)

## Aligning Internal Stakeholders

The weighting process is also a critical tool for internal alignment. It forces different departments ▴ [portfolio management](https://prime.greeks.live/question/what-is-the-relationship-between-an-order-management-system-and-an-execution-management-system/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite), IT, operations, compliance, and client services ▴ to negotiate and agree upon a unified set of priorities. A common mistake is to develop the RFP in a silo.

The most effective approach involves forming a cross-functional evaluation committee. This committee is responsible for debating and finalizing the weights for each section of the RFP before it is issued, ensuring that the final decision reflects the collective needs of the entire organization, not just the loudest voice in the room.

![A sophisticated proprietary system module featuring precision-engineered components, symbolizing an institutional-grade Prime RFQ for digital asset derivatives. Its intricate design represents market microstructure analysis, RFQ protocol integration, and high-fidelity execution capabilities, optimizing liquidity aggregation and price discovery for block trades within a multi-leg spread environment](https://options.greeks.live/wp-content/uploads/2025/07/institutional-grade-proprietary-architecture-driving-high-fidelity-digital-asset-derivatives-execution-via-rfq-protocols-and-optimized-market-microstructure-dynamics.jpg)

![Intersecting metallic structures symbolize RFQ protocol pathways for institutional digital asset derivatives. They represent high-fidelity execution of multi-leg spreads across diverse liquidity pools](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-framework-optimizing-multi-leg-spreads-and-liquidity-aggregation-for-best-execution.jpg)

## Execution

With a strategic framework in place, the execution phase of the PMS RFP process translates abstract priorities into a concrete evaluation and decision. This stage is about meticulous detail, objective measurement, and a structured process that ensures the final choice is both defensible and optimal for the firm’s future. The process can be broken down into three key phases ▴ comprehensive criteria definition, disciplined scoring, and multi-round evaluation.

![A polished metallic modular hub with four radiating arms represents an advanced RFQ execution engine. This system aggregates multi-venue liquidity for institutional digital asset derivatives, enabling high-fidelity execution and precise price discovery across diverse counterparty risk profiles, powered by a sophisticated intelligence layer](https://options.greeks.live/wp-content/uploads/2025/08/principal-rfq-hub-digital-asset-derivatives-liquidity-aggregation.jpg)

## Comprehensive Criteria Definition

The foundation of a successful evaluation is a detailed and well-categorized list of requirements. This goes beyond broad headings to specific, verifiable questions. The goal is to leave no room for ambiguity in vendor responses. Firms must classify requirements into logical groups, such as those suggested by procurement best practices.

The following table outlines a detailed, though not exhaustive, list of criteria that a firm should consider. This serves as a master checklist from which an RFP can be constructed, with the firm selecting and elaborating on the items most relevant to its needs.

### Table 2 ▴ Detailed RFP Evaluation Criteria Checklist

| Category | Sub-Category | Specific Criteria Example |
| --- | --- | --- |
| Functional | Portfolio Modeling | Does the system support multi-asset class portfolios, including derivatives and alternatives? Can it model “what-if” scenarios and rebalancing rules? |
| | Order Management | Does the system have integrated pre-trade compliance checks? Does it support block trading and allocation? |
| | Performance & Attribution | What attribution models are supported (e.g. Brinson, Campisi)? Can custom benchmarks and blended benchmarks be used? |
| | Client Reporting | Describe the level of customization available in the report builder. Can reports be scheduled and distributed automatically to clients? |
| Technical | Architecture | Is the platform single-tenant or multi-tenant? Is it a cloud-native application, or a legacy application hosted in the cloud? Describe the microservices architecture. |
| | Data Integration | Provide documentation for your REST and/or FIX APIs. What are the average response times? What data is accessible via the API? |
| | Security | Describe your data encryption methods for data at rest and in transit. Provide your latest SOC 2 Type II report and penetration test results. |
| | Vendor Viability | What percentage of revenue is reinvested in R&D? Provide your product roadmap for the next 24 months. What is your client support model and what are the associated SLAs? |

![A sophisticated teal and black device with gold accents symbolizes a Principal's operational framework for institutional digital asset derivatives. It represents a high-fidelity execution engine, integrating RFQ protocols for atomic settlement](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-rfq-protocol-core-engine-for-best-execution.jpg)

## Disciplined Scoring and Multi-Round Evaluation

A structured scoring process is essential for objectivity. The evaluation committee should use a predefined scoring matrix, applying the weights determined during the strategy phase. It is often effective to conduct the evaluation in multiple rounds. This prevents the team from getting bogged down in the details of weaker proposals and allows for a more focused analysis of the top contenders.

- **Round 1 ▴ Initial Shortlisting.** This round focuses on eliminating vendors that fail to meet “must-have” criteria. The scoring can be simpler, perhaps a pass/fail on key functional and technical requirements. The goal is to narrow the field from a large number of respondents to a manageable shortlist of 3-5 vendors.

- **Round 2 ▴ Deep-Dive Analysis and Demos.** The shortlisted vendors are invited to provide detailed demonstrations of their platforms. These demos should be scenario-based, forcing the vendor to show how their system would handle the firm’s specific, real-world workflows. The full weighted scoring matrix is applied during this round, with committee members scoring each vendor independently before convening to discuss and normalize the results.

- **Round 3 ▴ Reference Checks and Final Due Diligence.** The top 1-2 vendors from Round 2 undergo final scrutiny. This includes speaking with current clients of the vendor (ideally firms with a similar profile), conducting on-site visits if necessary, and a final review of contractual terms and conditions. The information gathered here serves as a final validation of the scoring from the previous round.

> The most successful PMS selection is an exercise in disciplined execution, where a quantitative framework transforms subjective preference into a strategic, data-driven decision.

This multi-round process ensures that the decision is based on a progressively deeper understanding of each vendor’s offering. It balances the need for broad market coverage at the beginning with the need for deep, focused analysis at the end, ultimately leading to a selection that is aligned with the firm’s carefully defined strategic, functional, and technical priorities.

![A close-up of a sophisticated, multi-component mechanism, representing the core of an institutional-grade Crypto Derivatives OS. Its precise engineering suggests high-fidelity execution and atomic settlement, crucial for robust RFQ protocols, ensuring optimal price discovery and capital efficiency in multi-leg spread trading](https://options.greeks.live/wp-content/uploads/2025/07/precision-rfq-engine-for-institutional-digital-asset-derivatives.jpg)

## References

- Responsive. (2021). A Guide to RFP Evaluation Criteria ▴ Basics, Tips, and Examples.

- Euna Solutions. (n.d.). RFP Evaluation Criteria ▴ Everything You Need to Know.

- Procurement Tactics. (2025). 12 RFP Evaluation Criteria to Consider in 2025.

- Responsive. (2022). RFP Weighted Scoring Demystified ▴ How-to Guide and Examples.

- Fohlio. (2023). A Guide to Evaluating RFPs ▴ A Step-by-Step Approach.

![A dark, reflective surface features a segmented circular mechanism, reminiscent of an RFQ aggregation engine or liquidity pool. Specks suggest market microstructure dynamics or data latency](https://options.greeks.live/wp-content/uploads/2025/07/digital-asset-options-rfq-execution-microstructure-prime-os.jpg)

## Reflection

![Abstract geometric forms in muted beige, grey, and teal represent the intricate market microstructure of institutional digital asset derivatives. Sharp angles and depth symbolize high-fidelity execution and price discovery within RFQ protocols, highlighting capital efficiency and real-time risk management for multi-leg spreads on a Prime RFQ platform](https://options.greeks.live/wp-content/uploads/2025/07/prime-os-optimized-rfq-execution-for-digital-asset-derivatives.jpg)

## From Specification to Systemic Advantage

The process of weighting functional and technical criteria within a Portfolio Management System RFP is a profound act of corporate self-assessment. It compels a firm to look past a list of features and confront the core mechanics of its own value generation. The final document is more than a request to vendors; it is a blueprint of the firm’s operational nervous system, detailing where it requires precision, where it needs flexibility, and where it must build capacity for future growth.

The resulting choice of a technology partner will set the trajectory for the firm’s efficiency and scalability for years to come. The intelligence gathered through this disciplined process becomes a strategic asset, ensuring the selected PMS is not merely a tool, but a foundational component of the firm’s enduring competitive advantage.

![A central processing core with intersecting, transparent structures revealing intricate internal components and blue data flows. This symbolizes an institutional digital asset derivatives platform's Prime RFQ, orchestrating high-fidelity execution, managing aggregated RFQ inquiries, and ensuring atomic settlement within dynamic market microstructure, optimizing capital efficiency](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-trading-system-facilitating-high-fidelity-rfq-protocol-optimization-for-best-execution-and-atomic-settlement.jpg)

## Glossary

<a href="https://prime.greeks.live/area/portfolio-management-system/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A central dark nexus with intersecting data conduits and swirling translucent elements depicts a sophisticated RFQ protocol's intelligence layer. This visualizes dynamic market microstructure, precise price discovery, and high-fidelity execution for institutional digital asset derivatives, optimizing capital efficiency and mitigating counterparty risk](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-engine-visualizing-high-fidelity-execution-and-market-microstructure-dynamics.jpg)

## Portfolio Management System

Meaning ▴ A Portfolio Management System (PMS) constitutes the foundational computational infrastructure engineered for the comprehensive aggregation, precise valuation, and real-time oversight of institutional investment portfolios. </a><a href="https://prime.greeks.live/area/technical-criteria/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A precise digital asset derivatives trading mechanism, featuring transparent data conduits symbolizing RFQ protocol execution and multi-leg spread strategies. Intricate gears visualize market microstructure, ensuring high-fidelity execution and robust price discovery](https://options.greeks.live/wp-content/uploads/2025/07/high-fidelity-institutional-digital-asset-derivatives-rfq-execution-framework.jpg)

## Technical Criteria

Meaning ▴ Technical Criteria define the quantifiable, measurable conditions or precise specifications that a system, protocol, or execution strategy must satisfy for optimal performance, compliance, or robust risk management within institutional digital asset derivatives. </a><a href="https://prime.greeks.live/area/functional-criteria/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A sleek, futuristic institutional grade platform with a translucent teal dome signifies a secure environment for private quotation and high-fidelity execution. A dark, reflective sphere represents an intelligence layer for algorithmic trading and price discovery within market microstructure, ensuring capital efficiency for digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/precision-rfq-execution-for-institutional-digital-asset-derivatives-1.jpg)

## Functional Criteria

Meaning ▴ Functional Criteria represent the specific, measurable conditions and capabilities that a system, component, or process within the institutional digital asset derivatives ecosystem must demonstrably fulfill to achieve its intended operational objective. </a><a href="https://prime.greeks.live/area/client-reporting/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A reflective disc, symbolizing a Prime RFQ data layer, supports a translucent teal sphere with Yin-Yang, representing Quantitative Analysis and Price Discovery for Digital Asset Derivatives. A sleek mechanical arm signifies High-Fidelity Execution and Algorithmic Trading via RFQ Protocol, within a Principal's Operational Framework](https://options.greeks.live/wp-content/uploads/2025/07/precision-execution-digital-asset-derivatives-rfq-protocols-principal-trading-infrastructure-automated-liquidity-aggregation-intelligence-layer.jpg)

## Client Reporting

Meaning ▴ Client Reporting refers to the systematic aggregation, processing, and secure dissemination of comprehensive transactional, positional, and performance data to institutional clients concerning their digital asset activities. </a><a href="https://prime.greeks.live/area/system-architecture/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Precision instruments, resembling calibration tools, intersect over a central geared mechanism. This metaphor illustrates the intricate market microstructure and price discovery for institutional digital asset derivatives](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-execution-engine-microstructure-analytics.jpg)

## System Architecture

Meaning ▴ System Architecture defines the conceptual model that governs the structure, behavior, and operational views of a complex system. </a><a href="https://prime.greeks.live/area/data-integration/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![A polished, dark teal institutional-grade mechanism reveals an internal beige interface, precisely deploying a metallic, arrow-etched component. This signifies high-fidelity execution within an RFQ protocol, enabling atomic settlement and optimized price discovery for institutional digital asset derivatives and multi-leg spreads, ensuring minimal slippage and robust capital efficiency](https://options.greeks.live/wp-content/uploads/2025/08/quantitative-finance-driven-rfq-workflow-for-best-execution-in-digital-assets.jpg)

## Data Integration

Meaning ▴ Data Integration defines the comprehensive process of consolidating disparate data sources into a unified, coherent view, ensuring semantic consistency and structural alignment across varied formats. </a><a href="https://prime.greeks.live/question/what-is-the-relationship-between-an-order-management-system-and-an-execution-management-system/?utm_source=options.greeks.live&utm_medium=referral&utm_campaign=satellite" class="glossary-item-box">
![Three metallic, circular mechanisms represent a calibrated system for institutional-grade digital asset derivatives trading. The central dial signifies price discovery and algorithmic precision within RFQ protocols](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocols-and-execution-precision.jpg)

## Portfolio Management

The OMS codifies investment strategy into compliant, executable orders; the EMS translates those orders into optimized market interaction. </a>

**Tags:** [Investment Management Technology](https://options.greeks.live/area/investment-management-technology/), [Functional Criteria](https://options.greeks.live/area/functional-criteria/), [Portfolio Management System](https://options.greeks.live/area/portfolio-management-system/), [Procurement Process](https://options.greeks.live/area/procurement-process/), [Technical Criteria](https://options.greeks.live/area/technical-criteria/), [RFP Weighted Scoring](https://options.greeks.live/area/rfp-weighted-scoring/)	

## Discover More

- 
### [What Are the Essential Elements of a Legally Defensible Rfp Evaluation and Selection Report?](https://options.greeks.live/question/what-are-the-essential-elements-of-a-legally-defensible-rfp-evaluation-and-selection-report/)
![A central, intricate blue mechanism, evocative of an Execution Management System EMS or Prime RFQ, embodies algorithmic trading. Transparent rings signify dynamic liquidity pools and price discovery for institutional digital asset derivatives. Background diagonals abstractly depict market microstructure optimization via RFQ protocols ensuring high-fidelity execution.](https://options.greeks.live/wp-content/uploads/2025/07/precision-engineered-institutional-digital-asset-derivatives-framework-driving-high-fidelity-rfq-execution-and-optimized-market-microstructure-for-capital-efficiency.jpg)

A legally defensible RFP report is the immutable, evidence-based record of a fair, transparent, and methodologically sound selection process.

- 
### [How Should an Organization Properly Weight Scoring Criteria for a Software Rfp?](https://options.greeks.live/question/how-should-an-organization-properly-weight-scoring-criteria-for-a-software-rfp/)
![Two diagonal cylindrical elements. The smooth upper mint-green pipe signifies optimized RFQ protocols and private quotation streams. The distressed lower pipe, marked by splatters and cracks, represents market microstructure complexities, reflecting slippage, adverse selection, and transaction costs during high-fidelity execution of institutional digital asset derivatives.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-execution-microstructure-optimization-1.jpg)

A properly weighted RFP scoring model transforms subjective requirements into an objective, data-driven vendor selection process.

- 
### [What Are the Most Common Mistakes in RFP Design That Inflate Evaluation Timelines?](https://options.greeks.live/question/what-are-the-most-common-mistakes-in-rfp-design-that-inflate-evaluation-timelines/)
![Translucent and opaque geometric planes radiate from a central nexus, symbolizing layered liquidity and multi-leg spread execution via an institutional RFQ protocol. This represents high-fidelity price discovery for digital asset derivatives, showcasing optimal capital efficiency within a robust Prime RFQ framework.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-derivatives-rfq-protocol-execution-engine-layer.jpg)

An RFP's evaluation timeline expands to fill the vacuum created by ambiguous requirements and undefined scoring criteria.

- 
### [What Are the Most Common Pitfalls When Assigning Weights to Rfp Evaluation Criteria?](https://options.greeks.live/question/what-are-the-most-common-pitfalls-when-assigning-weights-to-rfp-evaluation-criteria/)
![Sleek, domed institutional-grade interface with glowing green and blue indicators highlights active RFQ protocols and price discovery. This signifies high-fidelity execution within a Prime RFQ for digital asset derivatives, ensuring real-time liquidity and capital efficiency.](https://options.greeks.live/wp-content/uploads/2025/08/institutional-digital-asset-derivatives-rfq-prime-os-execution-interface.jpg)

Assigning weights to RFP criteria is a control system for translating strategic intent into a quantifiable, defensible procurement decision.

- 
### [How Can an Organization Ensure Objectivity and Fairness in a Subjective RFP Evaluation Process?](https://options.greeks.live/question/how-can-an-organization-ensure-objectivity-and-fairness-in-a-subjective-rfp-evaluation-process/)
![An exposed institutional digital asset derivatives engine reveals its market microstructure. The polished disc represents a liquidity pool for price discovery. Internal mechanisms highlight high-fidelity execution, algorithmic trading, and robust RFQ protocol for block trade settlement via a Prime RFQ.](https://options.greeks.live/wp-content/uploads/2025/07/high-fidelity-digital-asset-derivatives-rfq-execution-system.jpg)

An organization ensures RFP objectivity by architecting a defensible system of weighted criteria, evaluator calibration, and phased scoring.

- 
### [What Are the Most Common Types of Bias in an Rfp Evaluation Process?](https://options.greeks.live/question/what-are-the-most-common-types-of-bias-in-an-rfp-evaluation-process/)
![A futuristic, metallic structure with reflective surfaces and a central optical mechanism, symbolizing a robust Prime RFQ for institutional digital asset derivatives. It enables high-fidelity execution of RFQ protocols, optimizing price discovery and liquidity aggregation across diverse liquidity pools with minimal slippage.](https://options.greeks.live/wp-content/uploads/2025/07/precision-engineered-platform-for-institutional-digital-asset-derivatives-rfq-protocol-optimized-execution-management-system-with-robust-liquidity-sourcing.jpg)

Common RFP evaluation biases are systemic flaws in judgment that can be neutralized by a robust, anonymized, and weighted scoring framework.

- 
### [What Is the Role of a Weighted Scoring Model in Improving Rfp Evaluation Consistency?](https://options.greeks.live/question/what-is-the-role-of-a-weighted-scoring-model-in-improving-rfp-evaluation-consistency/)
![Precision instruments, resembling calibration tools, intersect over a central geared mechanism. This metaphor illustrates the intricate market microstructure and price discovery for institutional digital asset derivatives. It highlights the analytical rigor of RFQ protocols ensuring high-fidelity execution and capital efficiency across dark pools.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-execution-engine-microstructure-analytics.jpg)

A weighted scoring model is a system for ensuring RFP evaluations are objective, consistent, and aligned with strategic priorities.

- 
### [What Are the Key Differences in the Evaluation Criteria between the Rfp and Rfq Phases?](https://options.greeks.live/question/what-are-the-key-differences-in-the-evaluation-criteria-between-the-rfp-and-rfq-phases/)
![A dark, precision-engineered module with raised circular elements integrates with a smooth beige housing. It signifies high-fidelity execution for institutional RFQ protocols, ensuring robust price discovery and capital efficiency in digital asset derivatives market microstructure.](https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-system-core-high-speed-price-discovery-module.jpg)

An RFP's evaluation criteria assess a vendor's holistic value and problem-solving capability; an RFQ's criteria measure price for a known item.

- 
### [How Can an Organization Reduce Subjectivity in Its RFP Scoring Process?](https://options.greeks.live/question/how-can-an-organization-reduce-subjectivity-in-its-rfp-scoring-process/)
![A dark, reflective surface features a segmented circular mechanism, reminiscent of an RFQ aggregation engine or liquidity pool. Specks suggest market microstructure dynamics or data latency. This represents an institutional grade Prime RFQ facilitating high-fidelity execution of digital asset derivatives, optimizing price discovery for block trades through an intelligence layer.](https://options.greeks.live/wp-content/uploads/2025/07/digital-asset-options-rfq-execution-microstructure-prime-os.jpg)

An organization reduces RFP scoring subjectivity by engineering a decision-making system with weighted criteria, blind evaluations, and quantitative modeling.

---

## Raw Schema Data

```json
{
    "@context": "https://schema.org",
    "@type": "BreadcrumbList",
    "itemListElement": [
        {
            "@type": "ListItem",
            "position": 1,
            "name": "Home",
            "item": "https://options.greeks.live"
        },
        {
            "@type": "ListItem",
            "position": 2,
            "name": "Question",
            "item": "https://options.greeks.live/question/"
        },
        {
            "@type": "ListItem",
            "position": 3,
            "name": "How Should a Firm Weight Functional versus Technical Criteria in a PMS Rfp?",
            "item": "https://options.greeks.live/question/how-should-a-firm-weight-functional-versus-technical-criteria-in-a-pms-rfp/"
        }
    ]
}
```

```json
{
    "@context": "https://schema.org",
    "@type": "Organization",
    "@id": "https://greeks.live/#organization",
    "name": "Greeks.Live",
    "url": "https://greeks.live/",
    "description": "Greeks.live is the definitive toolkit for the professional options trader, dedicated to empowering our users with institutional-grade data, advanced analytics, and a comprehensive suite of trading tools designed to provide a decisive edge in the market. Every article and guide published under the Greeks.live name is a product of our deep commitment to data-driven analysis and our mission to support the global trading community.",
    "email": "support@greeks.live",
    "logo": {
        "@type": "ImageObject",
        "url": "https://options.greeks.live/wp-content/uploads/2025/07/Greeks.Live-Logo-Icon.svg"
    },
    "hasPart": [
        {
            "@type": "WebSite",
            "name": "About Us",
            "url": "https://about.greeks.live"
        },
        {
            "@type": "WebSite",
            "name": "App Download Page",
            "url": "https://about.greeks.live/#/download/basic_trade"
        },
        {
            "@type": "WebSite",
            "name": "Newcomers' Guide",
            "url": "https://twisty-sign-c8b.notion.site/Guide-for-Greeks-live-X-Deribit-Newbies-5a08a3052822427d800af6eaf3704c8d"
        },
        {
            "@type": "WebSite",
            "name": "Knowledge Base",
            "url": "https://linktr.ee/greeks.live"
        },
        {
            "@type": "WebSite",
            "name": "Option Terminology",
            "url": "https://greekslive.notion.site/88dfc00e7c584d4d8969b6302a79a12f?pvs=4"
        },
        {
            "@type": "WebSite",
            "name": "Terms of Service",
            "url": "https://greeks.live/#/tos"
        },
        {
            "@type": "WebSite",
            "name": "Disclaimer",
            "url": "https://greeks.live/#/disclaimer"
        }
    ],
    "sameAs": [
        "https://x.com/greekslive",
        "https://youtube.com/@greeks_live?si=-KjT0Lkw4WUCI0tD",
        "https://t.me/greekslive_notifications",
        "https://t.me/greekslive",
        "https://pinterest.com/greekslive/"
    ],
    "makesOffer": [
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "RFQ Platform",
                "url": "https://rfq.greeks.live",
                "description": "Execute institutional-grade block trades for crypto options and futures. This platform provides deep, over-the-counter (OTC) liquidity via a professional Request for Quote system.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Lending Tools",
                "url": "https://lend.greeks.live",
                "description": "Manage crypto lending and borrowing activities to earn yield or secure loans. This suite of tools helps users analyze interest rates and manage collateralized debt positions.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Data Lab",
                "url": "https://greeks.live/#/deribit/tools/datalab/BTC",
                "description": "Analyze historical and real-time options data with advanced metrics. This tool is designed for backtesting strategies and identifying market trends through comprehensive data visualization.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Profit & Loss Analysis (PnL)",
                "url": "https://greeks.live/#/deribit/tools/pnl_analysis",
                "description": "Track and analyze the Profit and Loss (PnL) of your options portfolio. This tool provides detailed performance metrics to help traders evaluate and refine their strategies.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Position Visualization",
                "url": "https://greeks.live/#/deribit/tools/pv/BTC",
                "description": "Visualize complex options positions and their corresponding risk profiles. This tool generates payoff diagrams to help traders intuitively understand potential profit, loss, and exposure.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Options Calculator",
                "url": "https://greeks.live/#/deribit/tools/calculator",
                "description": "Calculate the theoretical price and risk parameters ('the Greeks') of crypto options. An essential tool for pricing new trades and analyzing the sensitivity of existing positions.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Greeks.live Main Platform",
                "url": "https://greeks.live/",
                "description": "The central hub for the Greeks.live suite of professional cryptocurrency options and derivatives trading tools. Access analytics, manage positions, and explore the ecosystem.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Community Forum",
                "url": "https://t.greeks.live",
                "description": "Join the official Greeks.live community. Connect with other traders, share insights, and receive the latest updates directly from the team.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Greeks.live for Deribit",
                "url": "http://deribit.greeks.live",
                "description": "A dedicated interface for trading on the Deribit exchange. This platform leverages Greeks.live's advanced analytics and tools specifically for users of Deribit's options and futures markets.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "Greeks.live for OKX",
                "url": "http://okx.greeks.live",
                "description": "A dedicated interface for trading on the OKX exchange. This platform integrates Greeks.live's powerful analytics with the OKX marketplace, focusing on its options and derivatives products.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "GLVS.AI Trading Platform",
                "url": "https://www.glvs.ai/",
                "description": "An AI-powered platform for automated crypto options trading. Leverage advanced algorithms and data-driven signals to develop and deploy sophisticated, hands-free trading strategies.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        },
        {
            "@type": "Offer",
            "itemOffered": {
                "@type": "Service",
                "name": "API Testnet & Sandbox",
                "url": "https://test.greeks.live",
                "description": "A dedicated testnet environment for developers to test their API integrations and automated trading strategies. This sandbox allows for full functionality testing without risking real funds.",
                "provider": {
                    "@id": "https://greeks.live/#organization"
                }
            }
        }
    ],
    "subOrganization": [
        {
            "@type": "Organization",
            "name": "GreeksLive HK Co., Limited",
            "email": "support@greeks.live",
            "telephone": "+852-56418949",
            "address": {
                "@type": "PostalAddress",
                "streetAddress": "Unit 11, 27/F, K. Wah Centre, 191 Java Road",
                "addressLocality": "Hong Kong",
                "addressRegion": "North Point",
                "addressCountry": "CN",
                "postalCode": "0000"
            },
            "geo": {
                "@type": "GeoCoordinates",
                "latitude": "22.2932357",
                "longitude": "114.2022026"
            },
            "image": "https://options.greeks.live/wp-content/uploads/2025/08/Wah-Centre-Hong-Kong.jpg"
        }
    ]
}
```

```json
{
    "@context": "https://schema.org",
    "@type": "Article",
    "mainEntityOfPage": {
        "@type": "WebPage",
        "@id": "https://options.greeks.live/question/how-should-a-firm-weight-functional-versus-technical-criteria-in-a-pms-rfp/"
    },
    "headline": "How Should a Firm Weight Functional versus Technical Criteria in a PMS Rfp? \u25b4 Question",
    "description": "A firm must weight PMS RFP criteria by mapping its unique strategic identity to a quantitative scoring model. \u25b4 Question",
    "url": "https://options.greeks.live/question/how-should-a-firm-weight-functional-versus-technical-criteria-in-a-pms-rfp/",
    "datePublished": "2025-08-09T21:21:09+00:00",
    "dateModified": "2025-08-09T21:21:10+00:00",
    "articleSection": [
        "Question"
    ],
    "author": {
        "@id": "https://greeks.live/#organization"
    },
    "publisher": {
        "@id": "https://greeks.live/#organization"
    },
    "image": {
        "@type": "ImageObject",
        "url": "https://options.greeks.live/wp-content/uploads/2025/07/institutional-digital-asset-rfq-protocol-execution-intelligence-layer.jpg",
        "caption": "This abstract composition visually articulates complex interplay within institutional digital asset trading. Central segmented discs represent aggregated liquidity pools, dynamically intersected by a high-fidelity execution bar, indicative of advanced RFQ protocols. Glowing lines signify the intelligence layer and high-speed data flow crucial for best execution and precise price discovery. Subtle technical markings underscore robust market microstructure and Principal OS, optimizing capital efficiency for multi-leg spreads in crypto derivatives."
    },
    "keywords": [
        "API Integration",
        "Asset Management Operations",
        "Client Reporting",
        "Data Integration",
        "Functional Criteria",
        "Investment Management Technology",
        "Portfolio Management System",
        "Procurement Process",
        "RFP Evaluation",
        "RFP Evaluation Criteria",
        "RFP Weighted Scoring",
        "System Architecture",
        "Technical Criteria",
        "Vendor Selection"
    ]
}
```

```json
{
    "@context": "https://schema.org",
    "@type": "WebSite",
    "url": "https://options.greeks.live/",
    "potentialAction": {
        "@type": "SearchAction",
        "target": "https://options.greeks.live/?s=search_term_string",
        "query-input": "required name=search_term_string"
    }
}
```


---

**Original URL:** https://options.greeks.live/question/how-should-a-firm-weight-functional-versus-technical-criteria-in-a-pms-rfp/
