The Federal Government is constantly acquiring various services and products by using Federal Contracts as a mechanism to obtain solutions form vendor contractors. This means that every business – no matter the size or the industry – can pursue federal procurements and improve their chances to accomplish their long-term business objectives.
However, before deciding for which government contracts to bid for, businesses must consider some significant elements of the bid/no bid decision making process. If you’re thinking about responding to an RFP solicitation released by an agency that you’ve targeted, first you need to go through some process and decide whether you have the capabilities to do that. Make an assessment regarding the solicitation and make sure your company can meet the requirements, award criteria, terms, and conditions of the contract. Assign the job to experienced professionals who can properly guide you through the proposal development process and improve your win chance.
When it comes to a bid/no bid decision making, you must understand that you’re not dealing with a milestone, but rather, with a continuum. This misunderstanding affects the decision-making process. Besides the fact that it can give indecisive tendency, it can also lead to making a bad decision. In order to be able to determine what and how you should invest in a pursuing a bid, you must develop a unique system that will guide you to make the right choice.
For businesses that are experiencing federal contracting for the first time, it’s advisable to not make a bid/no bid decision before the RFP is issued. Certainly, it’s safe to make the “no bid”, but considering making a “bid” decision you need assistance from experienced people in the bidding process.
We know that there’s a great possibility that final RFPs can have extra or fewer things than Draft RFPs. An unexpected change in the final solicitation, such as a contractual clause that you have no capability to cope with, can turn an opportunity you were positive you could bid into a “no bid” decision. Therefore, you can’t make the decision until the final RFP is released. On the other hand, it’s very important to make the decision preceding the solicitation release. You need to start preparing your winning strategy, plan your proposed solution and content. To start the pursuit before the RFP comes out, you need to conduct a market assessment, find resources and develop a capture plan much earlier.