The Financial Leader’s Monthly Action Plan: Optimize resources through better planning
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The Financial Leader’s Monthly Action Plan: Learn the art of proposal revisions
Learning how to successfully adjust your proposals can turn pedestrian submissions into winners
We’ve released an eBook titled “The Financial Leader’s Monthly Action Plan.” Each month, we are posting excerpts here on our blog. For the month of July, the theme is “Learn the art of proposal revisions.
The Federal Acquisition Regulation (FAR) process, the backbone of competitive procurements, may seem straightforward at first glance. The government outlines its needs, issues a solicitation, and interested parties submit proposals. Yet, the reality of the process often diverges from this seemingly linear path.
Ambiguities in the solicitation can lead to amendments — changes that must be communicated by the government to all offerors. And post-submission, you may have realizations that may prompt you to modify your proposal. It can be a challenging process, so here are some tips for mastering the art of proposal revisions.
Adapt swiftly
When amendments emerge, your success hinges on more than just acknowledging change; it requires a proactive approach. Swift adaptation involves closely monitoring communications, promptly assessing the implications of amendments, and efficiently integrating these changes into your proposal.
Engage in meaningful discussions
Different approaches taken by various offerors frequently require face-to-face discussions, a key component of the government contracting process. While these interactions may now occur in virtual spaces, the essence remains unchanged.
Following discussions, you are typically invited to submit revised proposals—commonly known in the GovCon world as "best and final offers" (BAFO). However, the term 'final' isn't always as absolute as it sounds. Occasionally, some change in requirements, a discrepancy in the process, or even a need for one more clarification will necessitate yet another BAFO. On rare occasions, several more will be required.
Refine technical details with precision
Crafting the technical portion of your proposal demands precision. During revisions, focus on addressing customer concerns raised during discussions with clarity and depth. This goes beyond making slight tweaks and involves delving into the intricacies of your solution, ensuring that each modification enhances the overall quality of your proposal.
Consider conducting internal reviews to pinpoint potential weaknesses or areas that may have been overlooked. Use feedback from subject matter experts and team members to refine technical details and ensure that your proposal not only aligns with the customer's needs but also stands out as an example of technical excellence.
Conquer the cost volume task
The cost volume of your proposal, though seemingly a task of numbers, is an art in itself. In "Best Value" source selections, the realism and reasonableness of cost estimates can make or break your proposal. This is where Unanet's budgeting and planning functionality comes into play.
The platform provides the ability to cost out a project plan using actual labor and indirect rates from the accounting system without the need to transfer them to spreadsheets or other external systems. This eliminates the potential for errors and ensures accuracy, facilitating iterative planning with multiple, variable scenarios. It's a tool that empowers you to decide exactly where to take that second (or third or fourth) bite of the apple.
Seize opportunities in the proposal process
Each revision is an opportunity for you to refine, adjust, and improve. It's a chance to showcase your agility and responsiveness to customer needs while addressing any shortcomings in the initial proposal.
As the procurement journey unfolds, you must master the art of revising proposals, ensuring that each step is deliberate, each adjustment purposeful, and each revision a testament to your commitment to delivering value.
Suggested resource
Check out the following resource to help you in crafting a knockout proposal.
Want to learn more? Download the entire eBook here.