Why Do You Need Capture Planning For Winning Government Contracts?

Why Do You Need Capture Planning For Winning Government ContractsCompetition is always high for government contracts, and you probably know how difficult it is to put together an offer that truly stands out. Adopting the right strategy could make recognizing opportunities and obtaining contracts a lot easier for you. Contract planning could be the winning strategy you need.

The right capture planning strategy should help you identify the right opportunities, provide you with a set of standards you can rely on to assess the amount of work required as well as your profit margin and some winning strategies you can use to improve your chances of getting the contracts you want. Developing the ideal capture planning strategy can take time, but you will definitely stand out from the competition and get more contracts once you find an approach that works for you.

Capture Planning for winning government contracts includes four different steps:

  • An external analysis of the project, which should include a comprehensive analysis of what the government wants, the conditions you will have to work in, the time-frame you will have to complete the project and some type of analysis of the other contractors you are competing against.
  • An analysis of how you will complete the project. You need to develop relevant solutions to perform the work needed by the government, come up with an estimated cost and calculate your profit margin. Rely on data you have collected from similar jobs in the past and do not forget to analyze your risks and factor them into your estimate. This step could also include securing partnerships with other professionals who can help you complete the project.
  • Develop the winning strategy that will set you apart from the competition. Your strategy should be detailed and ideally involve several members of your team. Your primary goal is to come across as a well-organized professional with a solid knowledge of your industry. Your strategy could for instance include setting up a meeting with your project manager and the government agency, presenting similar projects you have worked on in the past or providing the government with positive references from previous clients.
  • The last step consists in executing and monitoring the strategy you developed. Stay in touch with the people in charge of implementing the different steps of your strategy if you are not going to present the offer yourself. Use the responses you receive to assess the efficiency of the different strategies you relied on and make some improvements if needed. Your approach to capture planning will improve as you go after more contracts.

Analyzing opportunities, developing capture planning strategies and implementing those strategies can be time-consuming. Thankfully, there are automated tools you can rely on to find the right opportunities, perform analysis, plan out your strategies and keep track of your results. Contact us at TechnoMile to learn more about automated solutions for contractors.