A famous magazine publisher once told me, "Type quickly and edit slowly." The same holds true for completing RFPs. The typing time spent on an RFP depends on the RFP. Too much typing time may cut into your review and editing process, while too little typing time may mean that you have not been thorough enough with your answers.
Time is an essential element of an RFP. In a process where consultants look for any excuse to reduce the number of responses, an RFP that is turned in late will most certainly result in the firm being eliminated from consideration.
If the RFP is the same or similar to a request you've completed before, then you only need to review your previous answers and update any data requested. This may take only a few hours. On the other hand, some RFPs (for example, from a state pension) can be very detailed and require days to complete.
In terms of the personnel involved, the review process should involve one editor and, if necessary, one person from your compliance department. The editor should be someone who's just as familiar with the answers as you are, with an eye for grammar and spelling. Further, this should be someone you trust and whose feedback you respect.
In the best-case scenario, your standard answers have already been approved by compliance, and only new answers and current data will need to be reviewed by compliance when completing a new RFP. Ensure that compliance is aware of your deadlines (and include some "wiggle room" in the schedule, as many RFPs are delayed by compliance review).
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