Business

What is Bid Management?

What is Bid Management?

In many businesses, a bidding process takes place before contractors are hired and projects begin. The tender process will be overseen by a bid manager.

 

Often in smaller businesses, bid management is not the main role of the person who oversees the bidding process. They are usually a project manager or director who has taken on the extra role of bid manager.

 

In larger organisations, there may be a full team that is dedicated specifically to sorting out the bidding process. Each member of the team will take on a unique role so that the bidding process runs smoothly.

 

What is Bid Management?

Bid management occurs before anybody is hired or the project begins. It ensures that every stage of the bidding process runs efficiently and all questions are answered before anybody is hired.

 

Some bid managers might oversee multiple bids at once, depending on the needs of the business or the amount of time that they have available. For a bid manager whose main role is elsewhere in the business, they may manage just one bid or oversee a small part of the overall bidding process.

 

Only once the bidding process is complete can a contract be signed. It’s the bid manager’s role to ensure the best bid is chosen within a reasonable timeframe so that the project can start and finish on time.

 

What Does the Bid Manager Do?

The role of the bid manager is extremely important. The right bid must be chosen so that the best people are hired for the project.

 

Most of the time, the bid manager will take charge of the entire bidding process. They will accept all of the bids, assess each one, and select the best option.

 

The bid manager is also responsible for letting everybody know the outcome of the process, regardless of whether they are successful or not. Ideally, the bid manager should also ask for feedback from every bidder to identify where changes and improvements can be made in the bidding process for the future.

 

In some cases, bid management might involve some form of negotiation with the client. Changes might be made to the costs or terms and conditions of the contract.

 

Some companies choose to outsource bid management to an external company instead of using an in-house team. Professional bid management services will take over the whole bidding process so that the company doesn’t need to do anything themselves.

 

What Skills Are Required for Effective Bid Management?

There are many types of construction software available. Many bid managers choose to use bid management software to make the process easier. It provides a way for every bid to be compared on a single platform to identify the most suitable contractors and subcontractors.

 

Even with great bid management software, bid managers still need to possess a strong set of skills to be successful. Some of the important skills include:

  • Organisation 
  • Communication
  • Leadership
  • Honesty

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