Sometimes, firms and organizations are pretty sure that they are going to bid on a certain project because they have been following it for a long time and think they have a good idea of the requirements. Other times, they will see a newly-issued solicitation notice and think "hmmm, that project looks like it's right up our alley." Then, when they actually receive the RFP / RFA, they jump right into it -- spending time and money -- without really taking the time to determine if they should actually make the bid.
Making a bid is costly. And if you have to stop or abort the bid because you suddenly realize that it is not really up your alley or you can't meet the requirements, it's like throwing money away. Although there may be occasions when a bid will be aborted for good reason (something better or more important comes along, a critical teaming partner drops out), you can lessen your chances of having to stop a bid in the middle by making a formal bid/no bid decision before you begin working on it.
So how does this work? The first thing you need to do is to institute a formal decision process. This process should come into play as soon as the RFP/RFA is received. Determine who will review the solicitation and who will be involved in decision-making. You may want to form a permanent committee of top decision-makers who will meet to hear and discuss the bid/no bid presentation of the reviewer.
To gather and present information for a bid/no bid decision, it's a good idea to use a short form that can be filled in by the reviewer. This form should reference all the information that is important to your organization in deciding whether or not to make a bid. Armed with this type of information, you will be in a good position to determine if a particular bid is really for you.
In response to numerous requests, I've made my own Bid/No-Bid Form and related materials available for sale via my website. The 2-page computerized form is accompanied by a 12-page "how to" document which takes you step-by-step through the bid decision process. It contains a wealth of information and tips to help you make the right decision when you are considering bidding on an RFP or RFA.
To purchase, please Click Here. When you've completed your purchase, you'll receive an e-mail with a link that will allow you to download an MS Word file containing both the Form and its accompanying document.
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