TO BID OR NOT BID?
This Decision for Marvin and his
Company is going to be huge. Because, this decision is going to change the fate
of the company in either way. Considering the Pros and Cons, the various
factors that should be considered are:
Strategy for Long Term: Paying little respect to whether the
endeavor you are wanting to offer on fits in with the long-haul technique and
targets of the association. Maybe he needs to start taking care of more private
work or he needs to start rising against greater endeavors like mending offices
or lodgings. In spite of
what his association’s long-term system is, guarantee he is recognizing and
lining assignments that meet with those destinations.
Execution Ability: His company must come to conclusion
on various factors like, being able to provide resources, also need to ensure
you financially sound to completing the project, meaning you have the bonding
capacity and adequate cash flow to perform the work and know your purposes
of restriction so you don’t extend past what you are fit for performing.
Risk Management: It’s a good practice for any firm or
organization to calculate Risk before making a decision to get into a bid. Also,
they have to consider factors like, reviewing plans and documents and also be
able to rely on the historical data for the similar projects that they have
executed in the past, compose the threats, thinking about how much time, money
and work each danger will require directing sufficiently.
Productivity: Primary concern for any organization
would be, whether or not the project is going to make decent amount of benefit.
If there is no scope of profit, then there would be no bidding for business. Ensure
you have an exact and exhaustive record of your yearly work and hardware costs,
so you can effectively gauge your activity costs.
These would be various variables
that Marvin and his team should consider before going for a bid and if these
variables are satisfied then they can go ahead and bid for the contract.
Ma, H. (2011). Factors
affecting the bid/no bid decision making process of small to medium size
contractors in Auckland