How To Select The Right Projects To Bid On
Today we are going to talk about “Reviewing Documents and Taking Notes” and deciding whether you should bid or not on the invitations that you have just received. You may have received an invitation via email, or someone from a company may call you to ask you if your interested in bidding on a current project that they are submitting a quotation for.
Tender Documents come in different forms and lengths, but they must be reviewed before you can submit an accurate quotation. If you want to be successful with responding to tenders then you need to get into the habit of thoroughly reviewing the tender documents. The specifications will provide you with the necessary information to ensure that you build the project correctly. The specifications will provide you with details and information that you need to order the right materials and complete your scope of work according to the plans. This habit will keep you from missing essential project details.
Five steps to selecting the right projects
Step 1: Get the necessary documents for the project.
Some projects will just consist of drawings with all the specifications outlined on the pages of the drawings, while others will have drawings, specifications, details plus supplementary documents, make sure you have all the documents you require before preparing to respond to any Tender.
Step 2: Review the project documents completely:
Prospective clients will quickly put your proposal aside if you can’t follow the instructions outlined in the proposal. Some of the project documents are very long documents and you may not have the time to read through the document. If that is the case then you should read the instruction to the bidder’s section, general instructions and the payment schedule.
Step 3: Research the Contractor:
Do some research on the company that you are submitting your response to and find out as much as you can about them. You can check out the company’s website, do a Google search, and call any contractors you may know and question them about the company. Make sure that the company has a good track record of completing their jobs on-time and paying their subs in a timely manner.
Step 4: Takes notes while reviewing the documents:
Use a simple template to take important notes from the tender documents. Write down any important information about specified material, things to look out for, and the pages that the information can be found on. Doing this simple step will give you a reference list or check-list that you will use to make sure that you are not missing any important information when submitting your bid.
Step Five: Decide if you will bid or not!
Deciding to bid on any project should fit your response criteria for your company to meet and exceed its annual goals. You should ask yourself a series of questions or before deciding to respond to any proposal. A few questions that you may ask yourself are: will you use your own staff and resources to complete the project or subcontractors? Can you fit this project fit into your current work schedule? And, will you have the staff, equipment, and resources to complete the project on time?
Getting in the habit of reading and reviewing project documents is essential to Responding To Tenders and ensuring that you are submitting an accurate quotation for every project that you decide to bid on. Make sure that you review the documents thoroughly and learn how to make the best decision for your business on whether or not to respond to each project you are interested in.