The project management team should assess each new project in light of the following criteria:
- First and most important, does the project support your total marketing strategy. The project you decide to pursue should be in line with your organization’s mission statement and primary marketing goals. For example, if the goal of your organization is to increase business in flight simulation projects, a project from a hospital will pull you from your main objective. Make sure the projects you go after support your business plan and marketing strategy.
- Does this project fall into your organization’s area of expertise? For example, if the RFP deals with upgrading satellite communications relays and your organization does not currently have any resources with those job skills, maybe you should not pursue the project. Nothing kills an organization’s reputation faster than failure to perform the required work. Make sure you have the capability to complete the project. Otherwise, it’s best to decline the project rather than risk compromising your firm’s reputation.
- Does your background research on the project point out where your firm has a competitive edge over other organizations? Do you have more experience in this area? Is your staff better trained or educated? Can you come up with more innovative solutions to the customer’s challenges? IF you cannot find some competitive edge, it would be better to wait for the next project.
- Have you worked for the customer before or had significant contact with them on other projects? If so, you often have a unique vantage point regarding their operations and problems. This fact can help give you a competitive edge over other organizations.
- Can you assemble a Project Team and provide them with enough support and dedicated resources to get the project accomplished? If your Project Team does not have enough time for management support to investigate the project completely, your chances of winning the project are decreased.
- Finally, taking all other criteria into consideration, what are the realistic chances that your organization will receive the project? If your research shows you have any less than a 50 to 60 percent chance of winning the project, it is generally not worth your time to pursue the project. Some experts say that an organization should not pursue any project unless they have an 80 percent or better chance of winning the project. Also, if you can determine that another firm has been unofficially selected, or wired to get do the project, you should not go for the project.
Once the management team has evaluated all of the above questions, they should have the kickoff meeting for the investigation project team to analyze the project further to make sure it should be a accepted as a project by the organization. This is the point in time when we start the Initiating Process for the project and the team begins to investigate the items listed below.
During the Initiating Process, the investigation project team, executive team or other appropriate organizational representatives will carry out many or all of the following activities: (The number of activities you will need to do will depend on the complexity of the project.
Establish Project Goals and Objectives
Guesstimate Schedule, Resources, Costs
Guesstimate resources and estimate costs
Project investment cost
Identify quality requirements
Present the proposal
Obtain approval for next phase