Updated January 2024
Want to give your opportunity pipeline a serious boost? PWin, short for probability of win, should be on your radar.
This isn't just another buzzword; it's a proven calculation that can transform your project list into a winning game plan. Imagine being able to visualize and measure the deals you're going after, and leaning on data to optimize every interaction with your leads.
With PWin, your project-based business can move from guesswork to a structured, data-backed approach, setting you on a path to predictable and sustainable success. Trust us, it's a conversation worth having.
In simplest terms, PWin (Probability of Win) is a numerical representation of your chances of landing a particular project or contract. But this isn't a number pulled out of thin air; it's calculated based on various factors like discriminators, competition, and other relevant variables.
Think of it as the science behind your sales strategy that gives you an objective lens to evaluate each opportunity in your pipeline.
Another calculation you’ll want to be aware of is PGo, which tells you the probability of the customer funding the project.
PWin = Probability that your company will with the business based on discriminators, competition, or other factors.
PGo = Probability that the customer will fund the project.
When you look at them together:
PWin x PGo = Probability of Award (POA)
For a project-based business like yours, an opportunity pipeline is the visualization and/or measurement of contracts or projects that you will attempt to win over time. The time horizon can be “time now” to 10+ years into the future, depending on the planning needs of your business or the length of your sales cycle.
An opportunity pipeline is the incubator for your business growth and it should reflect your company’s overall business strategy. Potential opportunities in the pipeline will be in different stages as defined by your company’s business development processes.
Managing your pipeline is crucial for prioritizing resources, improving sales strategies, and ultimately driving predictable revenue growth. Oftentimes, an opportunity pipeline is depicted with a funnel.
The top of the funnel is wide and it is taking in potential opportunities for new and exciting projects. The opportunity will then move through the business development decision gates (down the funnel and will either continue through the gates or be eliminated through the process) defined by your company until it reaches the Request-For-Proposal (RFP) Stage.
The bottom of the funnel is where projects that you have won and that you must now execute will reside. Also important here are the losses and understanding why you lost. Keeping a set of lessons learned will make sure you don’t make the same strategic mistakes again.
Having a gated and structured Business Development (BD) process will ensure you are bidding on the right opportunities and making the most out of your bid and proposal budgets.
With structured tracking, valuable reports and KPIs will be available to help make those critical business decisions. You will be able to analyze what is happening to opportunities throughout the process, look for patterns, see which portfolios are the most profitable, forecast your labor demands, and project the trajectory of your business (funded vs. unfunded backlog, for example).
A structured process will also improve the chances of pursuing the right opportunities and closing more deals.
Unanet is a powerful project-based ERP solution that can truly help your business manage the lifecycle of the project from pipeline to closeout. It is the only project-based ERP system today that provides one system for projects, people, and financials.
Today, effective pipeline management isn't just a nice-to-have—it's the bedrock of a successful project lifecycle.
Before you can optimize for deliverables, milestones, and financials, you need a comprehensive understanding of your project pipeline. It's about foresight, planning, and the right tools to carry your project from its nascent stages to a successful closeout.
Unanet is a powerful project-based ERP solution that can truly help your business manage the lifecycle of the project from pipeline to closeout. It is the only project-based ERP system today that provides one system for projects, people, and financials.
If all these benefits sound appealing—and let's be honest, who wouldn't want a more efficient, effective, and profitable pipeline—then it's time to consider Unanet. As a comprehensive project-based ERP solution, Unanet elevates your pipeline management from a task to a strategic asset.
With features designed to give you unparalleled visibility and control over your BD process, Unanet helps you bid smarter, not just harder. We built a solution that fully integrates projects, people, and financials into one dynamic ecosystem, and turns your pipeline from a challenge into an opportunity for growth.
With Unanet, the future of your pipeline—and your business—looks brighter than ever. Let’s connect if you have any questions or want to learn more about what Unanet can unlock for your organization.
