Many organisations put a strong focus on the pricing, since budgets tend to be limited and every party wants the maximum value for the lowest cost. Read more about pricing for a bid here.

1. BID MANAGEMENT
KEY SKILLS
JOHN HISCOCKS

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Accurate pricing for a bid is arguably one of the
challenging aspects when putting together a tender
document. The bid manager and the rest of team are
expected to work together closely - in collaboration
with other financial stakeholders - to ensure a
proposal is well understood and all aspects are
considered before reaching a final price.
B i d M a n a g e m e n t -
Pricing for a Bid

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One way of
making the process
easier is by referring
to similar projects under­
taken by the company in the
past to ensure the pricing is accu­
rate and reflects the work being bid
for. Developing a price quotation
typically involves figuring out the
specific ele­ments of the work to be
done and setting limitations on the
scope and resources. By breaking
down each component of the work,
the customer can see what exactly
they’ll be getting for their money.
When tendering for projects in the
public sector in particular, pricing is
always a huge consideration when
submitting the bid to potential eva­
luators. Buyers in the public sector
are obligated to choose competi­
tively priced bids during evaluation,
and this aspect can be a hard one
to overcome if your pricing is above
what the competition is doing -
unless your proposed solu­
tion demonstrates value
beyond the financial
summary.

4. To learn more
about this
topic, visit the
blog of John
Hiscocks.
John Hiscocks,
lead architects
working for Hill
International today