Tender writing is the first stage of the bidding process. When a request for proposal (RFP) is submitted, contractors and companies providing services must respond by writing a tender. Tender writing requires expertise to ensure the requesting company notices the bid. The company with the best written tender or bid will win the contract and have the opportunity to earn money by providing products or services to the requesting company. Every company should know how to write bids effectively to increase profitability and visibility within a given industry.
What Industries Benefit From Tender Writing?
Tender writing in some form or another exists in nearly every organization. The most formal and traditional form of tender writing is found in construction and government work. Tender writing also occurs in the private sector but it may not be as formal as tender writing in construction and government.
How Does the Process Work?
For example, a construction company may receive a RFP to build a skyscraper in a large city. The construction company may examine the scope of the project based on the RFP and write a tender detailing the estimated time the project will take to complete, the amount of building materials needed and cost, the manpower needed and cost and a general timeline with milestones and expected deliverables.
To write a competitive bid, the construction company must know the company's general budget and have a plan from the company's architect if the design has already been decided. The procurement department may then research the costs for a project of this magnitude and write a tender based upon the information provided in the RFP.
In general, a construction company with no experience in planning, project management and tender writing could not effectively write a tender for a project of this size. Most business owners or project managers with no experience would have no basis for knowing how long a project of this size would take and how much it would cost. Most project managers will have to successfully complete a project or several projects under the mentorship of another experienced company to take on a project of this magnitude.
Why Training is Necessary to Learn to Effectively Write a Tender
Lack of experience will be evident in the tender writing process if managers are not taught how to effectively write tenders. Training will teach managers to learn how to determine the scope of the project, to estimate the amount of building materials and how to assign costs. Most importantly, training will teach managers how to make a timeline of events and set milestones to determine the stages of the project.
Tender training is necessary especially when managers begin to handle multi-million dollar projects. Learning to write tenders can increase a company's revenue significantly. Tender writing training could propel a business from small, local projects to large city skyscrapers. The profit margin can be significantly greater in some instances.
Classes are offered online. These classes are designed to teach tender writing. Major universities are also examining and teaching the tender writing process.
Learn to Write Tenders
Improve profitability through tender writing. This process becomes easier with increased knowledge. Take a class and learn how tender writing can help your company.
Writing tenders against deadlines is stressful and not always successful. The Bid Manager offers experienced tender writing consultancy and bid management training. Contact us at http://www.TenderWriting.com or http://www.BidTraining.com The book "FastTrack Bid Management" is available on these sites for those that wish to learn bid management for themselves.
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