There are two distinct sides of any negotiation. In many cases, people tend to review contract negotiation from the buyer’s perspective. However, no analysis of contracts and negotiations would be complete without considering the seller’s perspective on bid participation and negotiation. The bid/no-bid decision requires analyzing the risks versus the opportunities of a potential business deal before deciding whether or not to proceed.
This week, we will consider the buyer’s and seller’s decision to participate on a bid. Consider the following:
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What are some factors that would be taken into consideration in whether to participate in a bid? Please share any examples that you may have from your experience with bids.
What tools are available to help us make a good bid/no bid decision?
What are some implications of declining a bid on a particular project?
Consider and explain the role of research as it pertains to a bid decision.
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