Coordination between the process engineers and estimators around a consistent set of project information can result in considerable savings of time and effort.
In the bidding phase, the process model can generate most of the information needed for an early estimate. These firms can bid more jobs and increase their win rate because their clients have more confidence in their bids.īest Practice No. They’ve also redesigned their process so that the engineers and estimators collaborate early and often. To hedge against this, best-in-class firms have moved from spreadsheets to purpose-built estimating software. I’m amazed at how many firms still decide their bid is “finished” just because time has run out, and end up not putting their best foot forward. 1: Optimize Collaboration to Create the Best Bidįewer projects means your bids must be competitive, but if you underbid you put your firm’s The key to winning more bids in this competitive environment, without introducing undo risk, lies in changing the way you approach the process of estimating.īest Practice No. Traveling, meeting with customers and hearing their stories has lead me to believe there are a few best practices that differentiate the firms that are consistently successful in winning work from those for whom luck seems to be a strategy. As engineering, procurement and construction firms (EPCs) face the reality of fewer and smaller projects that are out for bid, achieving higher win rates has become critical for growth.
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