RFP T3070 Replacement Investment System Platform Consultant 121616~1.docx

Bid Solicitation/Request for Proposal

Vendor’s {Bidder’s} Electronic Question Due Date (Refer to Bid Solicitation {RFP} Section 1.3.1 for more information.)

Mandatory/Optional Pre-Quote {Proposal} Submission Conference (Refer to Bid Solicitation {RFP} Section 1.3.6 for more information.)

Not Applicable

Mandatory/Optional Site Visit (Refer to Bid Solicitation {RFP} Section 1.3.5 for more information.)

Not Applicable

Quote {Proposal} Submission Date (Refer to Bid Solicitation {RFP} Section 1.3.2 for more information.)

Dates are subject to change. All times contained in the Bid Solicitation {RFP} refer to Eastern Time. All changes will be reflected in Bid Amendments {Addenda} to the Bid Solicitation {RFP} posted on the Division of Purchase and Property website and on www.njstart.gov.

Small Business Set-Aside Status |X| Not Applicable

|_| Entire Blanket P.O. {Contract}

|_| Partial Blanket P.O. {Contract}

|_| Subcontracting Only Category

|_| I |_| IV

|_| II |_| V

|_| III |_| VI

Bid Solicitation {RFP} Issued By Using Agency

Trenton, New Jersey 086250230

Date: As of December 16, 2016

Table of Contents

RFP-SPECIFIC ATTACHMENTS

Price Schedule/Sheet Vendor Checklist

INFORMATION FOR VENDORS {BIDDERS}

NOTICE: This Bid Solicitation {Request for Proposal (RFP)} is part of the NJSTART Procurement Program. The Vendor {Bidder} is advised to thoroughly read all sections, as many have been revised, and follow all instructions contained in this Bid Solicitation {RFP}, including the instructions on the Bid Solicitation’s {RFP’s} Offer and Acceptance Page {Signatory Page} and read through all Quick Reference Guides (QRGs) located on the NJSTART Vendor Support Page (http://www.state.nj.us/treasury/purchase/njstart/vendor.shtml), in preparing and submitting its Quote {Proposal}.

Terminology is listed by new NJSTART term; {existing term} appears in braces.

PURPOSE AND INTENT

This Bid Solicitation {RFP} is issued by the Procurement Bureau, Division of Purchase and Property (Division), Department of the Treasury on behalf of the Division of Investment (DOI). The purpose of this Bid Solicitation {RFP} is to solicit Quotes {Proposals} from Vendors {Bidders} for consulting services to assist the DOI in conducting an assessment of its current investment system infrastructure and to assist in the development of a subsequent Bid Solicitation {RFP} for the procurement of future systems. The DOI seeks to move toward an operating model with integrated systems, automated processes, a customizable and flexible platform to support areas of investment decision making, risk management, and reporting.

The intent of this Bid Solicitation {RFP} is to award a Master Blanket Purchase Order (Blanket P.O.) {Contract} to that responsible Vendor {Bidder} whose Quote {Proposal}, conforming to this Bid Solicitation {RFP} is most advantageous to the State, price and other factors considered. The State may award any and all price lines. The State, however, reserves the right to separately procure individual requirements that are the subject of the Blanket P.O. {Contract} during the Blanket P.O. {Contract} term, when deemed by the Director of the Division of Purchase and Property (Director) to be in the State’s best interest.

The Vendor {Contractor} awarded the Blanket P.O. {Contract} resulting from this Bid Solicitation {RFP} shall be ineligible to submit a Quote {Proposal} for all subsequent Bid Solicitations {RFPs} related to the Replacement Investment System Platform (RISP} for the duration of the Blanket P.O. {Contract} term. Ineligibility shall also extend to any entity affiliated with the successful Vendor {Contractor}, including parent or sister companies, subsidiaries, subcontractors, and entities owned in whole or in part or with close operational or financial ties.

The State of NJ Standard Terms and Conditions (SSTC) accompanying this Bid Solicitation {RFP} will apply to all Blanket P.O.s {Contracts} made with the State of New Jersey. These terms are in addition to the terms and conditions set forth in this Bid Solicitation {RFP} and should be read in conjunction with them unless the Bid Solicitation {RFP} specifically indicates otherwise.

BACKGROUND

This is a new Blanket P.O. {Contract} for the DOI. The DOI is responsible for the investment management of the seven (7) pension funds that comprise the New Jersey Pension Fund, as well as the State of New Jersey Cash Management Fund, and various other funds.

The DOI, under the supervision of the State Investment Council, is one of the largest pension fund managers in the United States. The pension fund supports the retirement plans of approximately 769,000 active and retired employees in seven (7) public pension systems: the Consolidated Police & Firemen’s Pension Fund, the Judicial Retirement System, the Police & Firemen’s Retirement System, the Prison Officers Pension Fund, the Public Employees’ Retirement System, the State Police Retirement System, and the Teachers’ Pension & Annuity Fund.

DOI’s total pension fund assets as of May 5, 2016 were approximately $72 billion and consist of a wide range of asset classes across public and private markets.

The following chart displays the State’s total pension fund.

Table 1: TOTAL PENSION FUND $71.92 Billion (Market value, unaudited, as of 05/31/2016. May not reflect the current market values of some alternative investments through the period noted, due to lags in reporting under industry standards.)

The following applications are currently being utilized by the DOI and will be included in the assessment of the current state:

a. InData – order management system responsible for all trading, trade compliance and reporting;

b. FactSet – portfolio position management, performance analytics, attribution and reporting;

c. Barra – plan risk assessment, portfolio risk analysis and portfolio modeling; and

d. Bloomberg – primary source for market data and research and also used for portfolio management.

Key Events

ELECTRONIC QUESTION AND ANSWER PERIOD

The Division will electronically accept questions and inquiries from all potential Vendors {Bidders} via the “Q&A” Tab of the Bid Solicitation {RFP} in NJSTART.

a. Questions should be directly tied to the Bid Solicitation {RFP} and asked in consecutive order, from beginning to end, following the organization of the Bid Solicitation {RFP}; and

b. Each question should begin by referencing the Bid Solicitation {RFP} page number and section number to which it relates.

Vendors {Bidders} may refer to the QRG “Submit a Quote” for additional instruction. QRGs are located on the NJSTART Vendor Support Page.

A Vendor {Bidder} must not contact the Using Agency and/or the Procurement Specialist directly, in person, by telephone or by e-mail, concerning this Bid Solicitation {RFP}.

The cut-off date for electronic questions and inquiries relating to this Bid Solicitation {RFP} is indicated on the Bid Solicitation {RFP} cover sheet. In the event that questions are posed by Vendors {Bidders}, answers to such questions will be issued by Bid Amendment {Addendum}. Any Bid Amendment {Addendum} to this Bid Solicitation {RFP} will become part of this Bid Solicitation {RFP} and part of any Blanket P.O. {Contract} awarded as a result of this Bid Solicitation {RFP}. Bid Amendments {Addenda} to this Bid Solicitation {RFP}, if any, will be posted as a File Attachment on the “Summary” page of the Bid Solicitation {RFP} in NJSTART after the cut-off date. (See Bid Solicitation {RFP} Section 1.4.1 for further information.)

EXCEPTIONS TO THE STATE OF NJ STANDARD TERMS AND CONDITIONS (SSTC)

Questions regarding the SSTC and exceptions to mandatory requirements must be posed during this Electronic Question and Answer period and shall contain the Vendor’s {Bidder’s} suggested changes and the reason(s) for the suggested changes.

SUBMISSION OF QUOTES {PROPOSALS}

In order to be considered for award, the Quote {Proposal} must be received by the Procurement Bureau of the Division at the appropriate location by the required time. Vendors {Bidders} shall submit a Quote {Proposal} either electronically through NJSTART or via hard copy.

Hard copy Quote {Proposal} must be submitted to the physical location noted below:

PROPOSAL RECEIVING ROOM – 9TH FLOOR

DIVISION OF PURCHASE AND PROPERTY

DEPARTMENT OF THE TREASURY

33 WEST STATE STREET, P.O. BOX 230

TRENTON, NJ 08625-0230

Directions to the Division are available on the web at http://www.state.nj.us/treasury/purchase/directions.shtml.

QUOTES {PROPOSALS} NOT RECEIVED PRIOR TO THE QUOTE {PROPOSAL} OPENING DEADLINE SHALL BE REJECTED. THE DATE AND TIME OF THE QUOTE {PROPOSAL} OPENING ARE INDICATED ON THE BID SOLICITATION {RFP} COVER SHEET AND IN THE “SUMMARY” PAGE OF THE BID SOLICITATION {RFP} IN NJSTART.

Note: A Vendor {Bidder} using U.S. Postal Service regular or express mail services should allow additional time since the U.S. Postal Service does not deliver directly to the Proposal Receiving Room. A Vendor {Bidder} should make every effort to submit its Quote {Proposal} well ahead of the Quote {Proposal} submission deadline to mitigate unforeseen delays or issues. The Vendor {Bidder} is solely responsible for the timely submission of its Quote {Proposal} in response to this Bid Solicitation {RFP}.

Procedural inquiries concerning this Bid Solicitation {RFP} may be directed to njstart@treas.nj.gov and/or (609) 341-3500.

The State will not respond to substantive questions related to the Bid Solicitation {RFP} or any other Blanket P.O. {Contract} via this e-mail address. For inquires related to substantive questions refer to Section 1.3.1 (Electronic Question and Answer Period).

NJSTART

The Division is pleased to announce its new eProcurement solution “ .”

Vendor {Bidder} Support:

Vendors {Bidders} are strongly encouraged to visit the NJSTART Vendor Support Page, which contains Quick Reference Guides (QRGs), supporting videos, a glossary of NJSTART terms, and helpdesk contact information.

The Vendor {Bidder} should utilize the QRGs before attempting to submit its Quote {Proposal} using the NJSTART process. It is the Vendor’s {Bidder’s} responsibility to ensure that the NJSTART Quote {Proposal} and attachments have been properly submitted.

ELECTRONIC SIGNATURES

Vendors {Bidders} submitting Quotes {Proposals} through NJSTART may sign the forms listed in Section 4.4.1 (Forms, Registrations and Certifications Required with Quote {Proposal}) and Section 4.4.2 (Forms, Registrations and Certifications Required Before Blanket P.O. {Contract} Award and That Should Be Submitted with the Quote {Proposal}) of this Bid Solicitation {RFP} electronically by typing the name of the authorized signatory in the “Signature” block as an alternative to downloading, physically signing the form, scanning the form, and uploading the form to NJSTART.

Vendors {Bidders} submitting Quotes {Proposals} in hard copy format, must provide forms with original, physical signatures, otherwise its Quote {Proposal} may be deemed non-responsive.

MANDATORY/OPTIONAL SITE VISIT

Not applicable to this procurement.

MANDATORY/OPTIONAL PRE-QUOTE {PROPOSAL} CONFERENCE

Not applicable to this procurement.

PRE-QUOTE {PROPOSAL} DOCUMENT REVIEW

Not applicable to this procurement.

ADDITIONAL Information

BID AMENDMENTS {ADDENDA}: Revisions to this BID SOLICITATION {RFP}

In the event that it becomes necessary to clarify or revise this Bid Solicitation {RFP}, such clarification or revision will be by Bid Amendment {Addendum}. Any Bid Amendment {Addendum} to this Bid Solicitation {RFP} will become part of this Bid Solicitation {RFP} and part of any Blanket P.O. {Contract} awarded as a result of this Bid Solicitation {RFP}.

There are no designated dates for release of Bid Amendments {Addenda}. Those Vendors {Bidders} who are on the bidholder list either through commodity code registration in NJSTART or by acknowledging the bid in NJSTART should receive notification of any Bid Amendment(s) {Addenda}. If a Vendor {Bidder} is not on the bidholder list to receive notifications related to a Bid Solicitation {RFP}, Bid Amendments {Addenda} are still viewable on the “Summary” page of the Bid Solicitation {RFP} in NJSTART.

BID AMENDMENTS {ADDENDA} WILL BE ISSUED AS FILE ATTACHMENTS, AND ARE VIEWABLE ON THE “SUMMARY” PAGE OF THE BID SOLICITATION {RFP} IN NJSTART. Vendors {Bidders} may refer to the QRG “Submit a Quote” for additional instruction. QRGs are located on the NJSTART Vendor Support Page.

It is the sole responsibility of the Vendor {Bidder} to be knowledgeable of all Bid Amendments {Addenda} related to this procurement. An interested Vendor {Bidder} should check the NJSTART “Open Bids” Tab on a daily basis to ensure review of the most updated information.

VENDOR {BIDDER} Responsibility

The Vendor {Bidder} assumes sole responsibility for the complete effort required in submitting a Quote {Proposal} in response to this Bid Solicitation {RFP}. No special consideration will be given after Quotes {Proposals} are opened because of a Vendor’s {Bidder’s} failure to be knowledgeable as to all of the requirements of this Bid Solicitation {RFP}.

COST Liability

The State assumes no responsibility and bears no liability for costs incurred by a Vendor {Bidder} in the preparation and submittal of a Quote {Proposal} in response to this Bid Solicitation {RFP}.

CONTENTS of QUOTE {Proposal}

Quotes {Proposals} can be released to the public pursuant to N.J.A.C. 17:12-1.2(b) and (c), or under the New Jersey Open Public Records Act (OPRA), N.J.S.A. 47:1A-1 et seq., or the common law right to know.

After the opening of sealed Quotes {Proposals}, including Quotes {Proposals} submitted through the NJSTART electronic process, all information submitted by a Vendor {Bidder} in response to a Bid Solicitation {RFP} is considered public information notwithstanding any disclaimers to the contrary submitted by a Vendor {Bidder}. Proprietary and confidential information may be exempted from public disclosure by OPRA and/or the common law. When the Bid Solicitation {RFP} contains a negotiation component, the Quote {Proposal} will not be subject to public disclosure until intent to award a Blanket P.O. {Contract} is announced.

As part of its Quote {Proposal}, a Vendor {Bidder} may designate any data or materials it asserts are exempt from public disclosure under OPRA and/or the common law, explaining the basis for such assertion. The location in the Quote {Proposal} of any such designation should be clearly stated in a cover letter. The State reserves the right to make the determination as to what is proprietary or confidential, and will advise the Vendor {Bidder} accordingly. Any proprietary and/or confidential information in a Quote {Proposal} will be redacted by the State. The State will not honor any attempt by a Vendor {Bidder} to designate its entire Quote {Proposal} and/or prices as proprietary, confidential and/or to claim copyright protection for its entire Quote {Proposal}. Copyright law does not prohibit access to a record which is otherwise available under OPRA. In the event of any challenge to the Vendor’s {Bidder’s} assertion of confidentiality with which the State does not concur, the Vendor {Bidder} shall be solely responsible for defending its designation, but in doing so, all costs and expenses associated therewith shall be the responsibility of the Vendor {Bidder}. The State assumes no such responsibility or liability.

By signing the Bid Solicitation {RFP} Offer and Acceptance Page {Signatory Page}, the Vendor {Bidder} waives any claims of copyright protection set forth within the manufacturer's price list and/or catalogs. The price lists and/or catalogs must be accessible to State Using Agencies and Cooperative Purchasing Program participants and thus have to be made public to allow all eligible purchasing entities access to the pricing information.

ANNOUNCEMENT OF QUOTE {PROPOSAL} INFORMATION

On the date and time Quotes {Proposals} are due under the Bid Solicitation {RFP}, all information concerning the Quotes {Proposals} submitted may be publicly announced and shall be available for inspection and copying except as noted below:

a. Information appropriately designated as proprietary and/or confidential shall not be available for inspection and copying; and

b. Where negotiation is contemplated, only the names and addresses of the Vendors {Bidders} submitting Quotes {Proposals} will be announced, and the contents of the Quotes {Proposals} shall not be available for inspection and copying until the Notice of Intent to Award is issued by the Director.

PRICE Alteration In Hard copy QUOTES {Proposals}

Hard copy Quote {Proposal} prices must be typed or written in ink. Any price change (including "white-outs") must be initialed. Failure to initial price changes shall preclude a Blanket P.O. {Contract} award from being made to the Vendor {Bidder}.

QUOTE {Proposal} ERRORS

In accordance with N.J.A.C. 17:12-2.11, “Proposal errors,” a Vendor {Bidder} may withdraw its Quote {Proposal} as described below.

QUOTE {PROPOSAL} WITHDRAWAL PRIOR TO QUOTE {PROPOSAL} OPENING

NJSTART: A Vendor {Bidder} may withdraw its Quote {Proposal} submission in NJSTART prior to the Quote {Proposal} opening; however, Vendors {Bidders} should note that while withdrawn NJSTART Quotes {Proposals} remain viewable by the Vendor {Bidder} on its Vendor Profile Homepage, they are removed from the Division’s view and cannot be considered for Blanket P.O. {Contract} award. The Vendor {Bidder} may submit a revised Quote {Proposal} as long as the Quote {Proposal} is received prior to the announced date and time for Quote {Proposal} submission. Vendors {Bidders} may refer to the QRG “Submit a Quote” for additional instruction. QRGs are located on the NJSTART Vendor Support Page.

Hard Copy: A Vendor {Bidder} may request that its hard copy Quote {Proposal} be withdrawn prior to the Quote {Proposal} opening. Such request must be made, in writing, to the Supervisor of the Proposal Review Unit at the address provided in Section 1.4.7.2 below. The Vendor {Bidder} may submit a revised Quote {Proposal} as long as the Quote {Proposal} is received prior to the announced date and time for Quote {Proposal} submission and at the place specified.

QUOTE {PROPOSAL} WITHDRAWAL AFTER QUOTE {PROPOSAL} OPENING, BUT PRIOR TO BLANKET P.O. {CONTRACT} AWARD

NJSTART and Hard Copy: If, after the Quote {Proposal} opening, but before Blanket P.O. {Contract} award, a Vendor {Bidder} discovers an error in its Quote {Proposal}, the Vendor {Bidder} may make a written request to the Supervisor of the Proposal Review Unit to withdraw its Quote {Proposal} from consideration for award. If the Vendor’s {Bidder’s} request to withdraw is made in good faith, and the State will not be significantly prejudiced by granting the withdrawal of the Quote {Proposal} beyond the loss of the benefit of the bargain to the State of the withdrawing Vendor’s {Bidder’s} offer, the request shall be granted. Evidence of the Vendor’s {Bidder’s} good faith in making this request can be demonstrated by one (1) or more of the following factors: A mistake is so significant that to enforce the Blanket P.O. {Contract} resulting from the Quote {Proposal} would be unconscionable; that the mistake relates to a material feature or term of the Blanket P.O. {Contract}; and that the mistake occurred notwithstanding the Vendor’s {Bidder’s} exercise of reasonable care. After Quote {Proposal} opening, while pursuant to the provisions of this section a Vendor {Bidder} may request to withdraw its Quote {Proposal} and the Director may in her discretion allow said Vendor {Bidder} to withdraw it, the Division also may take notice of repeated or unusual requests to withdraw by a Vendor {Bidder} and take those prior requests to withdraw into consideration when evaluating the Vendor’s {Bidder’s} future Quotes {Proposals}.

All Quote {Proposal} withdrawal requests must include the Bid Solicitation {RFP} identification number and the final Quote {Proposal} submission date and be sent to the following address:

Department of the Treasury Division of Purchase and Property PO Box 039 33 West State Street – 9th Floor Trenton, New Jersey 08625-0039 Attention: Supervisor, Proposal Review Unit

If during a Quote {Proposal} evaluation process, an obvious pricing error made by a potential Blanket P.O. {Contract} awardee is found, the Director or her designee shall issue written notice to the Vendor {Bidder}. The Vendor {Bidder} will have up to five (5) business days after receipt of the notice to confirm its pricing. If the Vendor {Bidder} fails to respond, its Quote {Proposal} shall be considered withdrawn, and no further consideration shall be given to it.

If it is discovered that there is an arithmetic disparity between the unit price and the total extended price, the unit price shall prevail. If there is any other ambiguity in the pricing, other than a disparity between the unit price and extended price and the Vendor’s {Bidder’s} intention is not readily discernible from other parts of the Quote {Proposal}, the Director may seek clarification from the Vendor {Bidder} to ascertain the true intent of the Quote {Proposal}. If the Vendor {Bidder} inadvertently completes the “Discount” field and the “Unit Cost” field, the Discounted Unit Cost will prevail.

JOINT Venture

If a Joint Venture is submitting a Quote {Proposal}, the agreement between the parties relating to such Joint Venture should be submitted with the Joint Venture’s Quote {Proposal}. Authorized signatories from each party comprising the joint venture must sign the Offer and Acceptance Page {Signatory Page}. Each party to the Joint Venture must individually comply with all the forms and certification requirements in Sections 4.4.1 and 4.4.2 of this Bid Solicitation {RFP}.

Reciprocity for Jurisdictional Vendor {Bidder} Preference

In accordance with N.J.S.A. 52:32-1.4 and N.J.A.C. 17:12-2.13, the State of New Jersey will invoke reciprocal action against an out-of-State Vendor {Bidder} whose state or locality maintains a preference practice for its in-state Vendors {Bidders}. The State of New Jersey will use the annual surveys compiled by the Council of State Governments, National Association of State Procurement Officials, or the National Institute of Governmental Purchasing or a State’s statutes and regulations to identify States having preference laws, regulations, or practices and to invoke reciprocal actions. The State of New Jersey may obtain additional information as it deems appropriate to supplement the stated survey information.

A Vendor {Bidder} may submit information related to preference practices enacted for a State or Local entity outside the State of New Jersey. This information may be submitted in writing as part of the Quote {Proposal} response, including name of the locality having the preference practice, as well as identification of the county and state, and should include a copy of the appropriate documentation, i.e., resolution, regulation, law, notice to Vendor {Bidder}, etc. It is the responsibility of the Vendor {Bidder} to provide documentation with the Quote {Proposal} or submit it to the Director within five (5) business days after the deadline for Quote {Proposal} submission. Written evidence for a specific procurement that is not provided to the Director within five (5) business days of the public Quote {Proposal} submission date may not be considered in the evaluation of that procurement, but may be retained and considered in the evaluation of subsequent procurements.

QUOTE {PROPOSAL} ACCEPTANCES AND REJECTIONS

N.J.A.C. 17:12-2.7(d), the Director’s right to waive minor irregularities or omissions in a Quote {Proposal} and N.J.A.C. 17:12-2.2 which defines causes for Quote {Proposal} rejection, apply to all Quotes {Proposals}. In addition, pursuant to N.J.S.A. 52:34-12, the Director retains the right to reject all Quotes {Proposals} if it is in the public interest.

DEFINITIONS

CROSSWALK

GENERAL DEFINITIONS

The following definitions will be part of any Blanket P.O. {Contract} awarded or order placed as result of this Bid Solicitation {RFP}.

Definitions are listed by new NJSTART terminology; {existing terminology} appears in braces.

All-Inclusive Hourly Rate – An hourly rate comprised of all direct and indirect costs including, but not limited to: labor costs, overhead, fee or profit, clerical support, travel expenses, per diem, safety equipment, materials, supplies, managerial support and all documents, forms, and reproductions thereof. This rate also includes portal-to-portal expenses as well as per diem expenses such as food.

Best and Final Offer or BAFO – Pricing timely submitted by a Vendor {Bidder} upon invitation by the Bureau after Quote {Proposal} opening, with or without prior discussion or negotiation.

Bid or Bid Solicitation {RFP or Solicitation} – This series of documents, which establish the bidding and Blanket P.O. {Contract} requirements and solicits Quotes {Proposals} to meet the needs of the Using Agencies as identified herein, and includes the Bid Solicitation {RFP}, State of NJ Standard Terms and Conditions (SSTC), price schedule, attachments, and Bid Amendments {Addenda}.

Bid Amendment {Addendum} – Written clarification or revision to this Bid Solicitation {RFP} issued by the Division of Purchase and Property. Bid Amendments {Addenda}, if any, will be issued prior to Quote {Proposal} opening.

Business Day - Any weekday, excluding Saturdays, Sundays, State legal holidays, and State-mandated closings unless otherwise indicated.

Calendar Day – Any day, including Saturdays, Sundays, State legal holidays, and State-mandated closings unless otherwise indicated.

Change Order {Contract Amendment} – An alteration or modification of the terms of a Blanket P.O. {Contract} between the State and the Vendor(s) {Contractor(s)}. A Change Order {Contract Amendment} is not effective until it is signed and approved in writing by the Director or Deputy Director, Division of Purchase and Property.

Cooperative Purchasing Program – The Division’s intrastate program that provides procurement-related assistance to New Jersey local governmental entities and boards of education, State and county colleges and other public entities having statutory authority to utilize select State Blanket P.O.s {Contracts} issued by the Division, pursuant to the provisions of N.J.S.A. 52:25-16.1 et seq.

Days After Receipt of Order (ARO) - means the number of calendar days ‘After Receipt of Order’ in which the Using Agency will receive the ordered materials and/or services.

Director – Director, Division of Purchase and Property, Department of the Treasury, who by statutory authority is the Chief Contracting Officer for the State of New Jersey.

Discount - Means the standard discount applied by the Vendor {Bidder} to all items.

Discounted Unit Cost – Means “Unit Cost” field multiplied by (100 percent minus the “Discount” field percentage).

Division – The Division of Purchase and Property.

Evaluation Committee – A committee established or Division staff member assigned by the Director to review and evaluate Quotes {Proposals} submitted in response to this Bid Solicitation {RFP} and recommend a Blanket P.O. {Contract} award to the Director.

Firm Fixed Price – A price that is all-inclusive of direct cost and indirect costs, including, but not limited to, direct labor costs, overhead, fee or profit, clerical support, equipment, materials, supplies, managerial (administrative) support, all documents, reports, forms, travel, reproduction and any other costs.

Freight - Means Freight on Board (FOB) Destination.

Joint Venture – A business undertaking by two (2) or more entities to share risk and responsibility for a specific project.

Master Blanket Purchase Order (“Blanket P.O.”) {Contract} – The Blanket P.O. {Contract} consists of the State of NJ Standard Terms and Conditions (SSTC), the Bid Solicitation {RFP}, the responsive Quote {Proposal} submitted by a responsible Vendor {Bidder} as accepted by the State, the notice of award, any Best and Final Offer, any subsequent written document memorializing the agreement, any modifications to any of these documents approved by the State and any attachments, Bid Amendment {Addenda} or other supporting documents, or post-award documents including Change Orders {Contract Amendments} agreed to by the State and the Vendor {Contractor}, in writing.

May – Denotes that which is permissible or recommended, not mandatory.

No Bid – The Vendor {Bidder} is not submitting a price Quote {Proposal} for an item on a price line.

No Charge – The Vendor {Bidder} will supply an item on a price line free of charge.

Ownership Disclosure Form – Refers to the Statement of Bidder/Vendor Ownership as utilized in NJSTART.

Primary Form – An electronic form contained within a Vendor’s {Bidder’s} NJSTART profile designated by the Vendor {Bidder} as the primary or principal version of the required form.

Procurement Bureau - The Division unit responsible for the preparation, advertisement, and issuance of Bid Solicitations {RFPs}, for the tabulation of Quotes {Proposals} and for recommending award(s) of Blanket P.O.(s) {Contract(s)} to the Director and the Deputy Director.

Project – The undertakings or services that are the subject of this Bid Solicitation {RFP}.

QRGs – Quick Reference Guides.

Quote {Proposal} – Vendor’s {Bidder’s} timely response to the Bid Solicitation {RFP} including, but not limited to, technical Quote {Proposal}, price Quote {Proposal}, and any licenses, forms, certifications, or other documentation required by the Bid Solicitation {RFP}.

Retainage - The amount withheld from the Vendor {Contractor} payment that is retained and subsequently released upon satisfactory completion of performance milestones by the Vendor {Contractor}.

Revision – A response to a BAFO request or a requested clarification of the Vendors {Bidders} Quote {Proposal}.

Shall or Must – Denotes that which is a mandatory requirement. Failure to meet a mandatory material requirement will result in the rejection of a Quote {Proposal} as non-responsive.

Should – Denotes that which is permissible or recommended, not mandatory.

Small Business – Pursuant to N.J.A.C. 17:13-1.2, “small business” means a business that meets the requirements and definitions of “small business” and has applied for and been approved by the New Jersey Division of Revenue and Enterprise Services, Small Business Registration and M/WBE Certification Services Unit as (i) independently owned and operated, (ii) incorporated or registered in and has its principal place of business in the State of New Jersey; (iii) has 100 or fewer full-time employees; and has gross revenues falling in one (1) of the three (3) following categories: For goods and services - (A) 0 to $500,000 (Category I); (B) $500,001 to $5,000,000 (Category II); and (C) $5,000,001 to $12,000,000, or the applicable federal revenue standards established at 13 CFR 121.201, whichever is higher (Category III); For construction services: (A) 0 to $3,000,000 (Category IV); (B) gross revenues that do not exceed 50 percent of the applicable annual revenue standards established at 13 CFR 121.201 (Category V); and (C) gross revenues that do not exceed the applicable annual revenue standards established at CFR 121.201, (Category VI).

State – The State of New Jersey.

State Contract Manager or SCM – The individual, as set forth in Section 8.0, responsible for the approval of all deliverables, i.e., tasks, sub-tasks or other work elements in the Scope of Work. The SCM cannot direct or approve a Change Order {Contract Amendment}.

Subtasks – Detailed activities that comprise the actual performance of a task.

Subcontractor – An entity having an arrangement with a Vendor {Contractor}, whereby the Vendor {Contractor} uses the products and/or services of that entity to fulfill some of its obligations under its State Blanket P.O. {Contract}, while retaining full responsibility for the performance of all [the Vendor’s {Contractor's}] obligations under the Blanket P.O. {Contract}, including payment to the Subcontractor. The Subcontractor has no legal relationship with the State, only with the Vendor {Contractor}.

Task – A discrete unit of work to be performed.

Unit Cost – All-inclusive, firm fixed price charged by the Vendor {Bidder} for a single unit identified on a price line.

Using Agency[ies] – A State department or agency, a quasi-State governmental entity, or a Cooperative Purchasing Program participant, authorized to purchase products and/or services under a Blanket P.O. {Contract} procured by the Division. In addition, with the approval of the Director of the Division of Purchase and Property and the agreement of the Vendor {Contractor}, the Blanket P.O. {Contract} may be used by any Using Agency or quasi-governmental agency.

Vendor {Bidder} – An entity offering a Quote {Proposal} in response to the Division’s Bid Solicitation {RFP}.

Vendor {Contractor} – The Vendor {Bidder} awarded a Blanket P.O. {Contract} resulting from this Bid Solicitation {RFP}.

BLANKET P.O. {CONTRACT}-SPECIFIC DEFINITIONS/ACRONYMS

Current State Assessment – A document that summarizes the assessment of the Division of Investment’s (DOI) technologies and operational processes.

Division of Investment (DOI) – A State agency that is responsible for the investment management of the seven (7) funds that comprise the New Jersey Pension Fund and State of New Jersey Cash Management Fund.

Fit-Gap Analysis – A fit-gap analysis determines where gaps in functionality exist when compared to operating or business requirements for the organization to system capabilities.

Gantt Chart – A type of bar chart that illustrates a project schedule and the time to complete specific tasks versus the time allocated for the completion of those tasks.

High-Level Schedule – A timeline that identifies milestones and deliverables to be achieved on a specified date.

Information Technology Infrastructure Library (ITIL) – A set of practices for Information Technology service management (ITSM) that focuses on aligning Information Technology (IT) services with the needs of business.

Joint Application Design (JAD) – A collaborative design of information technology, between the DOI and the Replacement Investment System Platform (RISP) awarded Vendor {Contractor}, to ensure that the DOI’s view of the business need is accurately addressed.

Multi-Vendor {Contractor} ala carte – A solution that pieces together services and platforms from multiple Vendors {Contractors} to create the overall system architecture. This option is needed in the event there is not a single vendor that can supply all the desired platforms.

Project Manager (PM) – A Vendor {Contractor} employee who shall function as the primary contact and project lead for the Vendor {Contractor}.

Project Management Institute (PMI) – A type of project management certification that is a part of the Project Management Body of Knowledge (PMBOK) Guide.

Replacement Investment System Platform (RISP) – An investment systems platform that replaces the current systems platform.

Replacement Investment System Platform (RISP) Evaluation Committee – The evaluation committee that will evaluate the RISP Bid Solicitation {RFP} responses that this Blanket P.O. {Contract} will develop.

Replacement Investment System Platform (RISP) Evaluation Committee Report – The report that is presented to the Director that summarizes the evaluation process and recommends a Vendor {Bidder} for final award.

Six Sigma – A set of techniques and tools for process improvement.

Target Model – A proposed future system design that satisfies the technological and operational requirements of the DOI.

SCOPE OF WORK

GENERAL REQUIREMENTS

The Vendor {Contractor} shall complete the following work, at a minimum, during each of the following phases:

a. Phase I – Current Assessment of Systems and Infrastructure:

1. Develop initial assessment and needs analysis of the current investment systems environment; and

2. Recommend a future State architecture and design of a Replacement Investment System Platform (RISP);

b. Phase II – Bid Solicitation {RFP} Development – Develop the Bid Solicitation {RFP} for the RISP;

c. Phase III – Bid Solicitation {RFP} Evaluation – Assist the Division of Investment (DOI) in the Quote {Proposal} evaluation for the RISP; and

d. Phase IV – Replacement Investment System Platform (RISP) Implementation – Assist and advise the DOI during the implementation of the RISP.

STAFFING

The Vendor {Contractor} shall maintain, the key personnel submitted in RFP Section 4.4.4.3.1 for the duration of the Blanket P.O. {Contract} or abide by Bid Solicitation {RFP} Section 5.6 – Substitution of Staff.

The Vendor {Contractor} shall not substitute or subcontract any of the tasks/services identified in this Bid Solicitation {RFP} to a third-party.

ELIGIBILITY REPLACEMENT INVESTMENT SYSTEM PLATFORM (RISP) BID SOLICITATION {RFP}

The Vendor {Contractor} awarded a Blanket P.O. {Contract} as a result of this Bid Solicitation {RFP} will not be eligible to submit a Quote {Proposal} or be awarded a Blanket P.O. {Contract} for the Replacement Investment System Platform (RISP) Bid Solicitation {RFP}.

DIVISION OF INVESTMENT (DOI)

The DOI will provide cubicle space for up to three (3) Vendor {Contractor} employees.

PHASE I – CURRENT ASSESSMENT OF SYSTEMS AND INFRASTRUCTURE

The Vendor {Contractor} shall adhere to the following requirements:

a. Conduct onsite interviews with the DOI staff and relevant Information Technology (IT) staff to understand DOI’s existing business model and observe DOI’s operating environment across all functional areas;

b. Assess the DOI operating model, use of technology, current data environment, and document the problems and challenges across all functional areas of the business;

c. Develop a Current State Assessment document outlining the DOI technological and operational processes, capabilities and deficiencies, as they relate to industry best practices for all functional areas. The Current State Assessment document shall be submitted to the State Contract Manager (SCM) for review and acceptance within 75 business days of the Blanket P.O. {Contract} award start date;

d. Propose a Target Model to be environment based upon the Current State Assessment and a needs analysis; and

e. Provide recommendations for future State improvements and enhancements.

PHASE II – BID SOLICITATION {RFP} DEVELOPMENT

The Vendor {Contractor} shall adhere to the following requirements:

a. Develop specific requirements based on the Current State Assessment findings and the areas of opportunity for the Target Model Investment System and workflow efficiencies;

b. Finalize the design of the Target Model, which shall include options for an all-inclusive one (1) Vendor {Contractor} solution, if applicable, and a Muti-Vendor {Contractor} ala carte solution; and

c. Work with the DOI to develop a Bid Solicitation {RFP} for the procurement of a RISP.

PHASE III – BID SOLICITATION {RFP} EVALUATION

The Vendor {Contractor} shall adhere to the following requirements:

a. Assist the RISP Evaluation Committee and serve as a technical advisor to the Committee;

b. Assist in the development of a Vendor {Contractor} demonstration script to be followed by potential Vendor {Contractor} candidate interviews during in-person proposed system demonstrations;

c. Conduct a Vendor {Contractor} Fit-Gap Analysis; and

d. Assist the Evaluation Committee in the development of the RISP Evaluation Committee Report and award recommendation.

PHASE iV – REPLACEMENT INVESTMENT SYSTEM PLATFORM (rISP) implementation

Upon the successful award of a Blanket P.O. {Contract} for the RISP, the Vendor {Contractor} shall adhere to the following requirements:

a. Assist the SCM in managing the RISP Blanket P.O. {Contract} deliverables;

b. Participate in Joint Application Design (JAD) sessions with the RISP awarded Vendor {Contractor} and the DOI;

c. Act as an advisor to the DOI during the Design, Development, and Implementation (DDI) Phase of the RISP implementation; and

d. Attend weekly onsite meetings at 50 West State Street, Trenton, NJ with the DOI and the awarded Vendor {Contractor} of the resulting RISP Bid Solicitation {RFP} from this Blanket P.O. {Contract} during the DDI phase of the project.

PROJECT LAUNCH AND PROJECT MANAGEMENT

The Vendor {Contractor} shall adhere to the following requirements:

a. Schedule and conduct an initial in person project launch meeting for the project within five (5) business days after the Blanket P.O. {Contract} award start date, or as mutually agreed to by the SCM and Vendor {Contractor}. This meeting shall include discussion on topics including, but not limited to:

1. Project intent and scope;

2. Review of the current system documentation, process maps, and other operational data that will be made available to the Vendor {Contractor};

3. Proper methods and channels of communication between the Vendor {Contractor} and the SCM;

4. Development of reporting format and mechanisms; and

5. Any additional information pertinent to Blanket P.O. {Contract} operation.

b. Assign a certified (e.g. Project Management Institute (PMI), Information Technology Infrastructure Library (ITIL), Six Sigma) Project Manager (PM). The PM shall work with the SCM to establish weekly meetings throughout the all phases of the Blanket P.O. {Contract}.

PROJECT MANAGEMENT

The PM shall adhere to the following requirements:

a. Communicate with the SCM and relevant DOI staff within ten (10) business days following the project launch meeting to present the final project plan. The final project plan must be approved by the SCM and must be continuously updated by the Vendor {Contractor} throughout the duration of the project The project plan shall include, at a minimum, the following:

a. High-Level Schedule; and

b. Gantt Charts.

b. Prepare weekly project status reports, which the Vendor {Contractor} shall present and review at weekly status meetings conducted with the DOI to review the overall status of the project, critical path items, and issues. The weekly project status report shall be emailed, in MS Excel format, to the SCM within three (3) business days of the status meeting; and

c. Responsible for the updating of the project plan on a monthly basis and submitting it to the SCM in Microsoft Project format for review.

QUOTE {PROPOSAL} PREPARATION AND SUBMISSION

General

Quotes {Proposals} including Vendor {Bidder} proposed terms and conditions may be accepted, but Vendor {Bidder} proposed terms or conditions that conflict with those contained in the Bid Solicitation {RFP} as defined in Section 2.0 of this Bid Solicitation {RFP}, or that diminish the State’s rights under any Blanket P.O. {Contract} resulting from the Bid Solicitation {RFP}, will be considered null and void. The State is not responsible for identifying conflicting Vendor {Bidder} proposed terms and conditions before issuing a Blanket P.O. {Contract} award. It is incumbent upon the Vendor {Bidder} to identify and remove its conflicting proposed terms and conditions prior to Quote {Proposal} submission. In the event that a Vendor {Bidder} intends to propose terms and conditions contrary to the Bid Solicitation {RFP}, these Vendor {Bidder} proposed terms and conditions shall only be considered if submitted pursuant to the procedure set forth in Section 1.3.1 of this Bid Solicitation {RFP}. Vendors {Bidders} shall not submit exceptions on the “Terms and Conditions” Tab through NJSTART. Under no circumstance is the State required to accept a Vendor’s {Bidder’s} exception to the Bid Solicitation {RFP}.

In the event that prior to Notice of Intent to Award, the Division notifies the Vendor {Bidder} of any such conflicting Vendor {Bidder} proposed term or condition and the conflict it poses, the Division may require the Vendor {Bidder} to either withdraw it or withdraw its Quote {Proposal}.

After award of Blanket P.O. {Contract}:

a. if conflict arises between a Vendor {Bidder} proposed term or condition included in the Quote {Proposal} and a term or condition of the Bid Solicitation {RFP}, the term or condition of the Bid Solicitation {RFP} will prevail; and

b. if the result of the application of a Vendor {Bidder} proposed term or condition included in the Quote {Proposal} would diminish the State’s rights, the Vendor {Bidder} proposed term or condition will be considered null and void.

The Vendor {Bidder} is advised to thoroughly read and follow all instructions contained in this Bid Solicitation {RFP}, including the instructions on the Bid Solicitation’s {RFP’s} Offer and Acceptance Page {Signatory Page} and through all Quick Reference Guides (QRGs) located on the NJSTART Vendor Support Page, in preparing and submitting its Quote {Proposal}.

Use of URLs in a Quote {Proposal} should be kept to a minimum and may…