The tasks associated with Bid Management involve;
- Feasibility Analysis – Eligibility review and commercial, legal as well as technical evaluation.
- Bid team formation, coordination and communication – Formation of different teams, communication with stakeholders and scheduling the meetings.
- Pre-Bid Activities – Collection and preparation of pre-bid queries and delivery to sales.
- Proposal Building – Creating and collecting relevant bid documents like Executive Summary, Compliance Matrix etc., and building RFI/RFP responses.
- Preparation of RFXs for Vendors – Make or buy analysis, assisting in decision-making, building of RFXs, finalising and distributing RFPs.
- Risk Management – Identifying the risks and reporting to higher management.
- Expansion and Diversification of Business Opportunities – New Empanelment with potential prospects, vendor Registrations, creating credentials in Online e-tender portals and looking for new business opportunities.
- Online e-Tendering Portals – Ensure the flow of e-Tendering activities, manage the data related to e-Tender portals and provide information to the bid team.
- Knowledge Management – Management of knowledge base of case studies, marketing the collaterals, purchase orders and contracts on the knowledge management portals.
- Quality Control and Delivering Responsive Proposals – Ensure responsiveness of proposals by periodically reviewing them and creation of bid related presentations.
- Continual Bid Process Improvement – Improving the bid process by implementing novel techniques and opportunities, identifying and implementing an effective way of archiving the bids in soft copies.
- Time Management – Defining activities, estimating the timelines, creation of Responsibility Matrix and circulation in bid team, ensuring that the bid content is received and delivered on time and sending alerts to bid team members.
- Competency Building and Training – Provide training and sharing new information and improvements to both the new comers and the bid team.
- Reporting – Collection of Tender status, maintaining management reviews and circulation of status reports to higher management.
- Bid Lost Analysis and Feedback – Collection of post-bid details and reporting to the higher management about the bid failures.
- Win Rate Analysis – Preparation of reports related to winning bids for management reviews.
- Lessons Learned – Ensure that lessons are noted down from each bid and implemented in subsequent bids.
Bid Management depends on a number of other teams or stakeholders like the Legal department, IT department, Administration department, Finance department etc. It includes drafting and scouting of RFP and the qualification of a bid. The Bid Management team identifies the stakeholders and coordinates with them in order to receive inputs. A Bid Manager is involved in all the process of bidding, from its inception to the final submission and beyond.