Submit a Successful Bid
Are you and your team getting ready to submit a bit, an important bid on a project? Are you hoping to put together a bid that clinches the deal but you’re not sure how to go about it? In order to submit a successful bid that ends up getting picked, you must first understand the entire bid management process. Let’s take a closer look at what’s involved and provide you with some helpful tips and advice.
What is a Bid?
To start with, let’s discuss what a bid actually is. A bid is a process where one company is looking to purchase the services of a vendor. A great example is a government agency that invites companies to submit bids on a project. Various companies then prepare a bid document, which discusses what the company would be able to provide, their timeline, and, of course, the cost.
Once all bids have been submitted there is a selection process that takes place and then a winning bid is chosen. That winning bidder is awarded the contract/job. There is usually a fair amount of time given to put together the bid so that vendors are able to do a thorough job.
The Two Main Parts of the Process
The bid management process comes down to two main things: one is managing the people involved in the process and the second is managing the flow of knowledge. Both of these need to be run seamlessly and in coordination with each other in order to produce effective results.
Who is Involved in the Process
There are typically a number of people involved in the bid process, which is exactly why it’s important to have a bid manager overseeing all the developments. Within the bid team, there are many departments working together that conduct research and gather all kinds of information; there is also the bid writer, the document manager, and the bid editor.
At any given moment, these departments will all be working on their own tasks in the project, and the bid manager has to make sure that all of these tasks directly support and further the bid that will be submitted.
How to Put Together a Winning Bid
So the big question, of course, is how to put together a winning bid. There are a few tips you can keep in mind during the process, which are:
- Make sure you understand the project description
- Make sure your bid is very clear and concise, with no room for confusion
- Make sure you give the company a way to contact you
- Don’t price yourself out of the market; you need to stay competitive
Even with these tips, it can still be very difficult to write a bid. This is where a professional bid management service can prove to be very helpful. They are able to take over the bid management process and even have their own in-house bid writers and editors.
Engaging a professional to help you write a successful bid can make the difference between winning the contract and losing out to a competitor.