Decision Expenses hires can be changed by Budget.

Decision on the job to bidMarvin got 10 years of duration and has higher payments than the past contracts he is having.Some of the benefits to bid are;Company Profile Increase, Financial rate increase of the company, Expenses hires can be changed by Budget.  Growth  of company network. In order to make the bid/no-bid decision, there are a number of factors to consider in order  to make an objective, rather than subjective, decision. Decision on Bid/No-Bid depends on numerous factors to be considered to make an objective than Subjective decision.Some of the factors are;Profitability:  In First place if there is no profit there is no business in bidding. To estimate the job costs accurately make sure the accounts should be accurate and comprehensive from annual labor and equipment costs. Make sure to include the Taxes, Insurance and worker’s compensation, vacation pay before calculating the labor costs and the tools and equipment and additional benefits for providing the employees.Determine the cost to complete the project and to consider the variables, like locations construction method and contract requirements. So as to submit the winning bid profits should be determined.Capability:  When you have ascertained to make some money on the project ascertain the company if you are capable of doing the work. Make sure you can provide the manpower, staff, equipment and other resources to perpetuate the project and in required timeline need to commence and complete it. without jeopardizing any of other obligations make sure you need to assure financially that you are capable of building the project so that you can show you have bonding capacity and adequate cash flow for performing the work.Analyzing Historic data: Keep the record of all the bids including the successful ones and unsuccessful in order to secure the better bids and to influence more work. Clear understanding to be made for the lost of the bid whether it because of lack of expertise or simply out of low enough on price. Feedback is valuable and never hesitant to ask for one after the process of bidding is concluded. To complete the project under budjet need to verify that if you underperform or if you manage successfully or to improve the productivity identify the areas to develop. Bids can be identified better if you analyze the historical data and should be going after.Assessment of the Risk: Potential risks to be carefully classified before bidding a project and documents for bidding, stipulations and plans for the project depends on the historical data from the similar projects as to identify the risks and the common risks that include the deficient construction documents, accelerated timelines, unknown site conditions and safety concerns.Managing effectively requires prioritizing the risks and comparing to the time, money and work that each risk will require. Bid or not resolution depends on the grading mixture and threshold score factors. The decision on future projects to pursue depends by taking the data-driven approach for smart and informed decisions.Strategy for Long-Term: Considering the goals of the company whether not to project and are looking to bid depends on the long-term strategy and goals of the company. You need to start tackling the more private work as you look to maintain current level and grow the business or you need to start tackling the more private work or on large projects like Hotels. Identifying the projects that align with the work is most important than what’s your company’s long-term strategies are.References: Text books: Project management (eleventh edition) by HAROLD R.KERZNER, PhD BID OR NOT TO BID: A FRAMEWORK FOR CONTRACTOR DECISION MAKING