As a project owner, juggling multiple bids for a project can be quite a challenge. From figuring out what requirements you need from potential bids to ultimately selecting the best one, it’s essential to stay organized and in control. That’s where a project management information system (PMIS) comes in to make your life easier. Here’s what you should know about using a PMIS to help you efficiently organize the bidding process:
Creating Bid Solicitation Requests
Creating a bid solicitation request is so much faster and more efficient when using project management software. The request can be created right in the program and published online for immediate access. These bids are generally open to anyone who qualifies. For instance, if a project mandates certified contractors, that requirement will be clearly stated, and only those who meet the qualifications can submit their bids. Keep in mind that some projects are public, meaning they are open to all, while others are private and limited to the group of individuals you select.
In a bid solicitation, essential project details are provided to enable potential bidders to create accurate and informed bids. These details can include:
- Construction specifications
- Contract type
- Project requirements
- Pricing details
- Insurance requirements
Bid solicitations can also request additional information from applicants, such as their professional qualifications and projects they’ve worked on previously. All of this information helps project owners decide on the most suitable vendor for the job.
It’s a win-win situation for both project owners and bidders, as it leads to more informed decisions and ultimately contributes to the successful completion of the project.
Interactive Bids
Using project management software allows project owners to publish and share information in an interactive virtual plan room for vendor viewing. In some cases, vendors may need to register, which automatically subscribes them to the bids they are interested in. This grants them access to view and download the documents related to the specific bid.
Submitting their bid is seamless through the same project management platform. This makes the process incredibly user-friendly for both vendors and project owners alike. The advantage of having everyone operate within the same program is the effortless flow of notifications and updates. This streamlines communication and keeps all parties in the loop, ensuring that everyone stays up-to-date on any changes or important project updates. And if there are questions, bidders can submit a bid RFI that automatically routes to the right people to answer those questions.
Paperless Packages
By using project management information software, you eliminate the need, hassle, and waste of paper bids. Paper bids can be overwhelming, with their piles of spec sheets, drawings, instructions, and essential information that bidders must navigate through. A project management system cuts down on paper and puts all bid-related information in one convenient, digital location where bidders can easily access and review the necessary information. And from this same platform, you can send invitations to pre-qualified bidders or create a registration link for new bidders.
Faster Bid Leveling
By using a PMIS to create bid packages and evaluate submissions, leveling bids becomes a smoother process. You can view all bids side-by-side and quickly decide who is in the running and who is not. Once you’ve decided on a winning bid, the system will promptly notify your successful bidder. The entire procedure of sifting through bids and determining the best one has never been faster or easier. This streamlined approach not only saves you time but also ensures that you can confidently select the most suitable bid for your project.
Benefits of Using Projectmates
If you’re a project owner looking to remove the stress of creating winning bid packages and improve organization and convenience for everyone involved, Projectmates has the solution. Our project management information software provides the following benefits:
- 100% digital bidding
- Ability to track bidder interest, non-interest, and submissions
- Ability to distribute bid documents, forms, drawings, specifications
- Flexible invite-only or public bidding options
- Collaborative, two-way platform for bidders and bid managers
- And much, much more!
Contact Projectmates today if you’d like more information about what our software can do to streamline and expedite your bid management process. The Projectmates team is here to provide you with more information and guidance for making your bidding experience – as well as your project management experience – faster and much more efficient. Let’s work together to make your projects even more successful!
