The process of making the Go decision is often likened to investigating the potential for taking on a new project. The executive staff must do a feasibility study for each knowledge area of a project to evaluate if it is a go or no-go. In most companies, the result of these efforts becomes the start of the Project Plan, which is a living, evolving document that is used throughout the life of the project.
Executives will be evaluating the project from two different aspects. They are:
- Evaluating whether to bid or not to bid for a project
- Picking the key internal projects the organization will take on for the year
The evaluation process of deciding whether or not to bid on projects will be happening throughout the year. Executives will have to make sure the Request for Proposal (RFP) fits within their organization’s expertise. They will have to make sure they have the resources to work on the proposal.
Additionally, they will need to determine what is the probability of their winning the contract. If there is a low percentage chance of winning the contract, the recommendation is generally to not waste one’s resources in bidding the project.
Finally, does it seem that the RFP has already been written with another organization in mind? If the answer is yes, the recommendation is to not bid on the contract unless one already has some type of relationship with the buyer.
In most cases the selection of the key internal projects that the organization will take on for the year will only be done once a year. Management will pick the projects that they want to work on for the following year at the end of the previous year. Projects selected are ones that will help the organization increase profit, increase customer satisfaction, make the organization more productive, and improve quality, etc…