10 Fundamental capture management activities

As you prepare for 2014, take a good look at your capture management process.

Each company implements its capture management process to fit its culture and management structure, and all implementations should include the same fundamental activities.

1. Qualify the opportunity. Assess the new business opportunity and make an appropriate decision to invest in the pursuit.
2. Build the capture plan and resource the capture team. Develop a realistic, achievable plan that can be accomplished within the time available and against which capture progress can be measured.
3. Understand the customer’s objectives and requirements. Take the time to fully understand the customer’s scope of work and the objectives to be achieved.
4. Develop a preliminary solution linked to objectives. Create a solution to perform the work that achieves the customer’s objectives.
5. Position with the customer. Preview your solution with the client to shape the procurement strategy and the client’s thinking.
6. Assess the competition. Build a thorough, competitive assessment on which to base your win strategy and price to win.
7. Develop a win strategy. Identify your company’s strengths and competitors’ weaknesses so you can mitigate your weaknesses, neutralize their strengths, and accentuate your positive discriminators.
8. Establish a price to win. Establish a target price based on your competitive strategy and expected competitor pricing.
9. Plan and execute a teaming strategy. Identify where teammates can bolster your position, and select the best teaming partners and negotiate teaming agreements.
10. Assess risk. Identify, analyze, and mitigate contract performance risk as perceived by the customer.

Source: 10 Reasons why you need capture management by Bob Lohfeld in WashingtonTechnology.com