What is bid management and what does a bid management professional do?

Bid management is the process of managing tenders for a public or private sector contract. It generally involves the completion and submission of documentation, including ‘pre-qualification questionnaires’ and ‘invitation to tender’ documents. The role of the bid management professional is to ensure that a company’s bid for a particular contract is compliant, of the highest quality and has the potential to win the contract

For each tender, bid management professionals prepare supporting documents, answer fact finding questionnaires, illustrate success through case studies of previous contracts and highlight individuals with the right skills in their team to deliver the project. Bid management professionals must have an in-depth understanding of the needs and requirements of the purchasing organisation.

Key responsibilities

  • managing the bid qualification process for new opportunities
  • supporting and driving the bid process
  • managing input from a variety of stakeholders - contributions from sales, marketing, product teams, finance, commercial and legal
  • preparing and reviewing the commercial aspects of the bid, ensuring all services are included in the final price to the customer
  • reviewing and revising documents prepared by others and coordinating the preparation of those materials in a completed bid document
  • ensuring effective risk tracking and management throughout the bid process
  • managing the bid budget
  • ensuring timely delivery of compliant and commercially sound bids
  • understanding and resolving complex technical, strategic and business issues.

Why are they important?

In order to grow, a company must rely on securing new business. The challenge for external suppliers is being chosen to undertake a contract and the income that comes with it - bid management professionals provide the expertise that enables the highest chance of success in winning these contracts

Skills needed for this role

Bid management professionals must have strong commercial awareness as well as excellent interpersonal, communication and negotiation skills. They should also be highly analytical and with good attention to detail.

Strategic Professional Options examinations linked to this role

Advanced Performance Management

Career opportunities presented by this role

Construction, engineering and infrastructure are the largest areas for bid submission and have the highest demand for bid management professionals, however, opportunities also exist in industries such as healthcare and IT. Successful professionals can progress into director roles where they might be responsible for much larger contracts or for supervising multiple bids.

Competencies

High level competencies required include:

  • Advisory and consulatancy

    A. Gathers and understands financial and non-financial information to develop complete knowledge of the client business and the environment in which it operates.

    B. Provides expert advice that will add value to the business and gain advantage.

    C. Identify and advise on business partnering to develop strategic relationships to create opportunities, improve performance and solve business problems.

    D. Prepare and present business plans and advise on the actions to implement these plans.

  • Leadership and management

    A. Applies appropriate leadership strategies to effectively deliver business objectives.

    B. Leads, motivates and manages people to optimise performance and effectiveness.

    C. Collaborates, supports and works to achieve the objectives of the organisation, applying appropriate digital technologies.

    D. Acts proactively and thinks strategically, in anticipating organisational needs, recognising the wider business environment and dynamics.

     

  • Stakeholder relationship management

    A - Positively develops relationships with internal and external stakeholders.

    B - Communicates and gains commitment from internal and external stakeholder.

    C - Uses emerging technologies to collaborate and communicate effectively with stakeholders.

    D - Applies professional and ethical judgement when engaging with stakeholders.

    E - Aligns organisational strategic objectives with stakeholder needs and manages expectations.
     

  • Strategy and innovation

    A. Applies business acumen and commercial awareness to deliver business objectives.

    B. Recommends a range of suitable strategic options from which to develop sustainable plans and objectives.

    C. Evaluates, justifies and implements suitable strategic options.

    D. Adopts and applies innovative methods to implement strategy and manages change.