Putting up a bid can be a daunting task. When it comes to government and public sector tenders, the competition is extremely high. There is a range of businesses across public and private firms competing for the work.
In such a highly competitive environment, what helps a business get the tender is the bid proposal they send. After all, all the companies that bid for the tender have the same set of skill sets.
In this article, we are going to look into the factors that make the bid proposal approval friendly, whether you are applying for a UP tender, Punjab tender, or some other company/state tender.
What Are The Key Elements of Bid Proposal?
There are a number of tenders that are issued by government organisations, which vary according to different project needs and organisations. There are some elements, however, which are more or less the same in every bid proposal. Like –
Contact details of supplying agencies
Scope of the job
Need of the proposal
Information about goods and services to be provided by the contracting agency or supplier
Information on value-added services
Terms and conditions
Projected project timeline
Sign of both the parties
Strategies that would help you draft the bid proposal
While knowing the elements of the proposal helps, understanding what are the best strategies can help you come closer to getting their bids approved.
Start by addressing the contracting authority by their name. This will show the government body that you have made a personalised bid instead of copy-pasting the same across every individual tender. Additionally, referring by name helps in building a personal connection.
Now, since every tender is different, so are the expectations from a contracting authority. It’s important to take the time to read tender documents carefully and then plan your response to meet the individual requirement.
Get all the necessary project information.
The tender documents carry all the necessary information about the work. It carries information such as – Procurement Procedures, Government requirements, Contract awards, and Evaluation Criteria.
It is crucial that you read through the tender documents every bit to ensure that every part of the project is covered. Doing this would help you draft a persuasive proposal that best highlights your resources and your skills, along with the results you would be able to deliver.
Keep the proposal about them.
What separates a bid proposal that doesn’t get approved from one that gets it is that the latter hits the middle ground of the company’s skillsets and the project requirements.
A lot of data points about your company, even when it’s a long document of the skill set details, might not help seal the deal. What should be done is that examples of projects that are similar to what the tender requirements are should be highlighted. This would help answer what makes you the best team to handle the job without even detailing what your skill sets are in words.
Mention what you can offer.
Once you have made a list of your skill set and how it aligns with your bid proposal, the next part would be telling the company/ government organisation what you can offer to them.
In the proposal, you should specify your offerings in terms of cost, timeline, and feature set, etc. What helps is adding a milestone or delivery plan. It would give your proposal a good push.
Proofreading is crucial
The bidding criteria would call for adding in strict timelines, management of multiple resources, and intense pressure coming in from different departments. Amidst all this, you should ensure that the proposal is grammatically correct and the sentence structure is perfect. It’s important to understand that the language and the detailing of the proposal would be the best representation of your brand’s image.
The cheapest bid doesn’t always win.
Whenever you bid for a tender, you should know that there will be a cost involved for you. Thus, it is necessary to put up a reasonable ‘quote’ for products or services which you are planning to offer.
Underpriced bids not only create incurring losses for your business in the long term but will also lower your credibility in the market. It is important that your bid should have a clearly defined price quote breakdown. Here’s how it is made.
Elements of a clear ‘quote’ breakdown consist of:
The Material Cost
The Opportunity Cost
The Overhead Cost
The Manpower Requirement
So here is everything you need to know about applying for the up tender, Punjab tender, or some other company/state tenders. It is crucial to know what are the different elements of the proposal and the best strategy to ensure its success. We hope that you got all the answers you were looking for in this article.
Next would be to put these learnings into practice. View all the latest tenders on the BidAssist platforms and start submitting proposals.