The tendering process poses significant challenges for businesses, requiring careful consideration before deciding to engage in it. To streamline your decision-making process, it’s crucial to assess various factors.
Before diving into tender preparation, download and thoroughly review the documentation to understand the buyer’s requirements and specifications. Organise a meeting with key team members to evaluate mandatory criteria, such as ISO certification, project delivery, and insurance requirements.
Analyse industry-specific mandatory criteria, incorporating them into your business objectives well in advance.
- Evaluation Criteria: Review and assess specified evaluation criteria, understanding the weighted percentages for each key area of your tender submission.
- Project Scope, Resources, and Timeframes: Evaluate the project scope, ensuring the availability of required resources and assessing your proposed methodology’s ability to meet specified timeframes.
- Price: Consider submitting a competitive price based on factors like methodology, resources, and project locations. Ensure the project is financially viable.
- Competitors: Identify the key competitors and research their methodologies and pricing. Attend tender meetings to gather information and assess your strengths against competitors.
- Risks and Opportunities: Evaluate risks related to safety, environment, contracts, resources, and finances. Create a Tender Risk Assessment Matrix to manage risks throughout the project.
- Contract Conditions: Early review of contract conditions is essential to identify terms that may pose challenges for your business.
- Client Relationship: If the buyer is a key client, consider their expectations based on your past positive outcomes.
- Current Opportunities: Assess the number and timing of available opportunities and decide which tenders align with your strengths.
- Available Time: Consider your availability to prepare a high-quality submission before the closing date. Develop a Bid/No Bid Process for streamlined decision-making.
Utilising a comprehensive approach and a Bid/No Bid Process tailored to your business needs will enhance your success in the tendering process.
For assistance in developing management systems for certification, feel free to contact us!