Bid/No bid decision is a very important part of the development process when considering entering the highly competitive Federal marketplace. The reason many companies fail to identify right opportunities to bid for is that they make decisions based on their intuition. There are many experts that actually support this kind of decision making. On the other hand, others think that it takes a refined process and lots of analysis in order to determine whether a certain opportunity totally fits your company.
Bid/No bid Analysis
This type of intelligence comprises a wide range of processes that need to be conducted to assesses advantages, disadvantages, risks, and discriminators of every opportunity. At the end of the procedure, you must be able to:
- Determine what the problem is. Intelligence research will give you access to much valuable information that will help you answer important questions. You must collect data in different disciplines, assess your customer and opponents in order to create your winning strategy and gain competitive advantage. There are many factors to consider, and many of them you can’t control. Nevertheless, by combining the available data, and comparing them to your own performance capabilities you’ll have the chance to improve your capturing plan and position your company to win.
- Come up with different solutions. Remember the famous saying “You have to kiss a lot of frogs to find a prince”? Think of it when trying to come up with solution ideas. Even the most experienced subject matter experts can’t score with the best solution for the first time. Time, money and lots of effort are needed so that you can outline your key ideas and come up with the most convenient solution.
- Choose the right solution. At this point, you should decide who your prince is. After weighing all the possibilities, considering risks, implementing the right features and demonstrating their benefits, you must be able to choose the right solution for the problem stated in the RFP sophistication.
It’s important to respond to a request for bid only if you think you’re a good candidate for that contract, not because that can impact your selection as a potential bidder on other contract opportunities. Sometimes it’s better if you just politely refuse to bid for an opportunity than prepare a not so compelling proposal with a low chance to win. The last thing you want is to look incompetent in the eyes of the decision makers.