Bid and No Bid Decision Definition and Explanation PDF | Download eBooks
Learn Bid and No Bid Decision definition in project management with explanation to study “What is Bid and No-Bid Decision”. Study bid and no bid decision explanation with project management terms to review project management course for online MBA programs.
Bid and No Bid Decision Definition:
Bid/no-bid decision involves evaluating whether to go forward with the preparation of a proposal.
Successful Project Management by Jack Gido and James P. Clements
Bid and No Bid Decision Explanation:
It is not necessary for a contractor to submit proposal for a project of the same field. Sometimes, contractors do not try to be a part of a particular project. This is due to the fact that proposal preparation process requires a lot of time and effort so a contractor must evaluate the situation before entering into the proposal submission process. The decision of either submit the proposal or not submit the proposal for a specific project is called bid/no-bid decision. A bid/no-bid decision considers some factors which involve competition, risk in carrying out the project, mission of the contractor's business, capabilities, reputation, funds, resources of the proposal, and resources of the project.
Keep Learning Project Management Explanations
What is Project Management Software?
A project must be planned, scheduled and regularly controlled. With the increase in the use of technology, computer nowadays got ...
What is Procurement Management Plan?
Procurement is defined as acquiring the required. During a project, several different things are required to perform the tasks and ...
What is Scope Control?
A group of processes that fulfills the need of tracking the actual performance of the project and comparing it with ...
What is Teleconferencing?
When it is not possible for team members to meet for a face-to-face meeting, teleconferencing can be done. Teleconferencing involves ...
What is Collaborating or Confrontin and Problem Solving?
Every member of the project team has a different mind set. This mind set can be a result of differing ...
What are Appraisal Costs?
Quality management involves processes and activities that help to prevent quality defects, and assure and control the quality in return. ...