Answer:
• Research and Planning
-This step takes the time to establish your company's qualifications to meet the needs of the project. It is critical to know that your company has the experience and resources to fulfill the needs of a major contract. In the research and planning phase, look at your own business plan as a resource for information. Use contract bid-request information, and then pull out relevant details from your own business plan and perfect it for the project.
• Preparing the Bid
-Creating the bid requires customized your business plan to highlight how your company is able to fulfill the bid request. Consider the costs of materials, time frame and labor needed to complete the bid. Remember that a bid is not always given to the lowest price but is given instead to the company best able of serving the needs of the bid. Go through the costs, make sure they are accurate and justify the costs, based on project needs. Be clear as to whether you are providing discount or premium services and why that is beneficial for the project.
• Submit the Bid
-Most government agencies seeking a RFP or a Request for Quote (RFQ) utilize online portals to submit bids. Make sure you learn how the portals work and that the submission goes to the right place with the correct documentation attached in one combined PDF file. The local Small Business Administration (SBA) is a good resource to help navigate government systems.
• Presentation Platform
-If you have done all the work through properly pricing and submitting the bid, you may have an opportunity to meet with the deciding team reviewing the bid. In today's digital world, expect to present in person or via online meetings.
• Getting the Contract Award
-Be sure to find out when the contract will be awarded. While these timelines are subject to change, you'll want to set your calendars and provide yourself enough time to make the necessary preparations to fulfill the contract. Awarding agencies aren't going to expect a project to start immediately after the award but you will need to start the dialogue on setting start dates. Stay in communication with your agency lead, note any requests for changes in scope and provide adjustments to the contract for them. Be professional and deliver on time to increase your chances for future bidding awards.
Explanation:
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