Read the tender documents

Before you price anything, get clear on what is actually being asked for.

What to look at first

• Deadlines. When does the question round close, and when is the submission due? The question round closes earlier — most people miss that the first time.
• What exactly is being procured — and in what quantity.
• Eligibility criteria. What must your company bring to the table?
• Award criteria. What is being assessed, and how is it weighted?

The weighting tells you where effort pays off. If price counts for 30 per cent and quality for 70, a carefully worked-out concept is worth more than the last centime off your price.

All the documents, not just the first file

The documents are attached to the tender and can be downloaded. Work through the full list: annexes, pricing sheets and draft contracts regularly contain requirements that the main document only touches on.

When something changes

A tender can be amended while it is running. If the buying organisation issues a change, everyone invited receives the notification. Take it seriously even if you have already done your pricing — changed quantities or deadlines are the reason an otherwise good offer ends up not fitting.

So look at the tender once more before you submit, rather than relying on the version you read three weeks ago.

The decision that belongs here

Whether to bid at all. An early, deliberate no is cheaper than an offer that fails on a criterion which was visible on day one.

If you decide not to bid, tell the buying organisation briefly. It costs you two minutes, and your next invitation depends on it more than you might think.