How to analyse a government tender?
Getting a tender from an eminent source is always a piece of astonishing news for every entrepreneur. But don’t forget to examine and evaluate it properly before sending the accepting mail to the sender. You can easily understand whether the provided government tenders are worthy of your time and effort investment. Do you want to acquire more knowledge about analysing the potential of a tender properly? Here, we are going to discuss more about tender details and how you could analyse government tenders aptly.
Collect more information about the tender
A tender request comes with every detail, especially if it belongs to the government tenders. First, you need to go through the tenders before assessing anything else. The following are some of the parameters that you should consider while assessing it.
- Experience plays an imperative role in the evaluation criteria. For this, you need to submit the documents of your experience in the same field. You must submit all authentic and genuine papers here, as they will review their legitimacy from their end. Since you are bidding for the government tenders, if you submit anything fake, then this could be riskier for you.
- Check thoroughly the services that are demanded by the owner of the tender. By going through it properly, you can evaluate whether the tender is worthy for you or not.
- Don’t forget to check out the important dates for the tenders. It should include the starting and ending date of the tender. To enhance your chance of getting the tender, you need to bid it as soon as possible.
- Lastly, there should be some submission requests in the tender. In this section, you need to provide some additional paperwork regarding the tendering process.
A team of deft and professional members of the tendering authority form the tender evaluation committee. Based on pre-informed location, date and time; the pre-qualification bids are opened in front of the bidders’ representatives.
During this pre-qualification, a checklist is prepared to select the bidders whose technical/financial bids will be opened at a later date, as per the tender notice/schedule. Pre-qualification checklist is prepared based on the following criteria.
- Annual audit reports of last 3 – 5 years
- Pertinent license to carry out the project in given region/territory
- Necessary background infrastructure required to complete the project
- Necessary industry certifications
- Imperative documents like PAN/TIN, sales tax/VAT/registration certificates etc.
- EMD (Earnest money deposit enclosed)
Access your capabilities
After checking all details of the government tenders, you need to do some self-evaluation. Following are some factors that you should analyse.
- Is the tender appropriate for you or not? If it is unable to uplift your portfolio in any way, then you withdraw it.
- You should have adequate knowledge about the strength of your business. This will help you to understand whether you are the proper person for this job or not. Apart from it, you should go through the capabilities of your contenders (who have applied for the same tender). This will help you to understand where you currently lack or are ahead of them.
- Prepare an approximate estimation of the expense of the government tenders. If you make a budget before bidding, then you can save yourself from going overboard while buying the module.
Assessing the details of the government tenders is quite challenging if you don’t get everything in an organized way. That’s why you should opt for tendersinfo where you will find everything, including dates, timing, cost, etc. All this information will help you to assess the tender properly before making the final call.
Tendersinfo is one of the largest online e-tendering portals for government tenders, NTPC tenders, NGO tenders, public tenders and private tenders. Here, you will find various tenders that will boost up your growth and profit. Before bidding on those tenders, you need to assess them properly so that everything can be done in a hassle-free way.