APMP Bid Development Cycle Overview Flashcards
What does SWOT stand for?
SWOT = Strengths, Weaknesses, Opportunities, Threats
What are the 8 basic stages of the BDC?
- Market Identification
- Account Planning
- Opportunity Assessment
- Opportunity Planning (capture/win)
- Proposal Planning
- Proposal Development
- Negotiation
- Delivery (ongoing customer relationship)
What is the prescribed action when dealing with existing products in an existing market?
Focus on competitors
What is the prescribed action when dealing with existing products in a new market?
Learn market, establish presence
What is the prescribed action when dealing with new products in an existing market?
Verify customer needs
What is the prescribed action when dealing with new products in a new market?
Create detailed plan, commit resources
How does an organisation move from an unknown position to a known position?
Effective marketing and long-term positioning
How does an organisation move from a known position to an improved position?
Effective relationship-building and selling skills
How does an organisation move from an improved position to a favoured position?
Customer collaboration to form business case
What does account planning entail?
Identifying historical account info, buying history, key customer personnel, decision makers, and developing a strategy to grow
Opportunity Assessment is otherwise known as what?
Bid/No Bid
What is the risk of not conducting adequate opportunity assessments?
Over-spending, pursuing opps with low probability of success, low win rate for team, diverting resources away from winnable opps.
What are the 4 C’s of opportunity management?
Customer, Competition, Cost, Company & Solution
What does ROI mean?
Return On Investment
What are the 5 key proposal planning activities?
- Migrating data from the opportunity plan to a proposal plan or to proposal planning tools
- Extending the opportunity/capture strategy into the proposal strategy.
- Refining the solution and price-to-win
- Engaging the right staff for the proposal team
- Holding a proposal kickoff meeting
What should an organisation consider when tailoring the BDC to their work?
Organisational size, scope (i.e. regional, global etc.), and customer/market conditions
According to recent trends, are large or small organisations increasingly winning bids?
Small (SMEs)
What changes are shifting the industry towards a more strategic procurement environment?
Adoption of e-Procurement, more competitive language, and LAFO/BAFO (UK) or LPTA (US)
What is more important and effective; early involvement with the buyer (influencing) or a compliant and responsive bid?
Early involvement
True or False: the BDC ends upon submission
False - this is just another opportunity to build a positive relationship with the buyer, and lay the groundwork for further opportunities
True or False: a bid team should record lessons learned for all bids, regardless of outcome
True - a bid team should conduct a lessons learned review of the process AND the outcome
Define ‘Price-to-Win’
Process to decide on price offered that balances the value of the product/service with the cost. Perceived value of product > buyer’s budget > your price > your cost
