The Mid-Bid ReviewThe Mid-Bid Review https://contractsadvance.co.uk/wp-content/uploads/2019/09/Mid-Bid-Review-1024x1024.jpg 1024 1024 Verity Silvester https://secure.gravatar.com/avatar/4fabb41bd3b500be96adf98d7e6ae77c?s=96&d=mm&r=g
Contracts Advance: The Mid-Bid Review
The Mid-Bid Review is a milestone in the project to gather the relevant stakeholders and take stock of the current status/progress of the bid submission. The Mid-Bid Review should comprise of the four core areas outlined below;
Ensure all Key Actions are being
At this stage of the bid there will have been numerous activities and tasks delegated. A capable Bid Project Manager should be circulating weekly project status reports, allowing the Mid Bid Review to act as a forum to review the reports to date. The reports will help determine any additional tasks which might have been identified since the Bid-Kick and Strategy Session (if unassigned) and outstanding tasks which may jeopardise the submission.
Ensure the Bid Project is on Track
The session also offers the opportunity to review the performance of the team so far, and the quality of the submission, in order that any changes can be made in a timely manner prior to the final submission.
Agree Solutions to any Issues
This is the opportunity to talk about any outstanding actions that need to be delivered or (for example) any responses from clarification questions that have been posed that may differ from your original understanding or that presented in the original specification. This is also an opportunistic time to conduct a further review of the Financial Modelling/Product Pricing.
Agree if the Project should Proceed
The above three areas should allow you to form assessment as to whether the Bid Project should proceed. Whilst it may feel counter-productive to abandon a bid, it is imprudent to continue resource investment in an opportunity with a low probability of winning. It is better to move on and focus efforts onto other opportunities, than submit submissions which may be of poor quality. Submitting inadequate bids risks tarnishing your reputation for future opportunities.