What process is used when an organization requests bids for a project?

The process most commonly used when an organization requests bids for a project is the request for proposal (RFP). An RFP is a formal document that outlines the project requirements and invites potential vendors or contractors to submit their proposals, detailing how they would fulfill the project's needs, along with their pricing and timelines. This process enables the organization to compare different proposals and select the best fit for the project, ensuring a competitive and transparent selection process.

While the other options relate to organizational planning and analysis, they do not specifically pertain to soliciting bids for projects. Budgeting reviews focus on financial resources and allocations rather than vendor proposals. Strategic planning is a broader process related to setting long-term goals and directions for the organization, without an immediate focus on individual projects. Market analysis involves researching industry trends and competitor actions, which can inform decision-making but does not directly address the process of soliciting bids. This distinction highlights why the request for proposal is the correct answer in this context.