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Projects can be identified, procured, and started in a variety of ways, as explained in the PMP certification preparation. Some are born in-house and arise from a business opportunity that the company saw for itself, one that could be exploited for profit or other benefits.
Other projects come
from outside the organisation, and the project team acts as a facilitator for
stakeholders who hire them for their knowledge, experience, and specialised tools.
These projects are frequently won through a competitive bidding procedure in
which several entities compete for the task.
Contract bidding
can be a profitable career path, but those unfamiliar with the procedure may
find it perplexing.
Bid, Tender, and Proposal
Although the terms bid, tender, and proposal may appear to
be interchangeable, they can indicate quite different things depending on the
firm. Before beginning any contract bid, it's critical to understand these
definitions.
·
Bid
A bid is frequently used to obtain new or repeat business.
As a result, a bid will be the result of a collaborative effort by people of
the organisation at various levels of power. A bid manager is normally in
charge of a bid, and he or she communicates with experts in fields ranging from
technical to legal. The term "bid" is sometimes used to describe an
offer made in response to a request or invitation to tender.
·
Tender
Tender is a term that can be used in place of bid and means
the same thing. The phrase bid is more commonly used by the organisation
seeking the project, whereas the term tender is more frequently used by the
organisation seeking the contract. There is a role for a tender manager, just
as there is for a bid manager. A project manager can often accomplish this work
as well, as explained in the PMP certification preparation.
·
Proposal
A proposal is a written document that a seller draughts for a potential buyer. It's just one phase in a longer sales process. Proposals are more client-centred and highly customised, including solutions to the buyer's needs. They are written by a proposal writer who caters to the needs of the customer or buyer. They can enlist the assistance of a technical expert who is more concerned with design and functionality than with selling. If the work is very difficult, a technical writer may be hired to address the proposal's technical parts more expertly and concisely.
Need more insights on Contract Bidding? Enrol in a CAPM, PMP, PgMP, or PfMP course today!