If you are a Contractor and you often put bids in to win Contract, then you would be familiar with the term, “Bid or No-Bid” or “Go or No-Go” when you are deciding whether to go for a particular work or not.
The decision can be based on a number of factors that has to do with what your company is doing at the time, the proposal itself, the competition in the market and the solution you would be providing. In this podcast, we cover the following things that the company must consider in deciding whether you will put the time and resources towards the bid or not.
For any given Tender or Bid process, understanding and resolving to either bid or no bid is one of the most important decisions you can make. A simple exercise can save you a lot of time effort and resources towards bidding.
- The Request for Proposal you are addressing;
- How the submissions will be evaluated;
- What Competition do you have out there;
- The Solution you can propose;
- The Price at which you can do the work; and
- What is the Incumbent Contractor doing.