Level: Intermediate
TCM Section(s)
11.2. People and Performance Management
Venue: 2024 AACE International Conference & Expo
Abstract: One of the most significant challenges faced by engineering firms and contractors is the quest for more business leads to enhance their chances of winning additional projects. The conventional method involves identifying requests for proposals (RFPs) and following the bidding process by tracking information from permitting details, new project announcements, funding approval news, or even rumors. While this methodology works well for most companies, it lacks a straightforward direction, resulting in random and unstable outcomes. The question arises: How and where can new business leads be found before the RFP stage? This paper, based on the project execution cycle model from the industrial leader DuPont, analyzes the major phases before the RFP. It explores stakeholders from the business and technical lines, examining their objectives and pain points to identify solutions that may add value for the client. This approach helps companies engage earlier in the process before the RFP, systematically obtaining business leads at earlier stages. The paper presents a business development mechanism, assisting engineering firms and contractors in generating leads systematically and staying ahead of their peers.
TCM Section(s)
11.2. People and Performance Management
Venue: 2024 AACE International Conference & Expo
Abstract: One of the most significant challenges faced by engineering firms and contractors is the quest for more business leads to enhance their chances of winning additional projects. The conventional method involves identifying requests for proposals (RFPs) and following the bidding process by tracking information from permitting details, new project announcements, funding approval news, or even rumors. While this methodology works well for most companies, it lacks a straightforward direction, resulting in random and unstable outcomes. The question arises: How and where can new business leads be found before the RFP stage? This paper, based on the project execution cycle model from the industrial leader DuPont, analyzes the major phases before the RFP. It explores stakeholders from the business and technical lines, examining their objectives and pain points to identify solutions that may add value for the client. This approach helps companies engage earlier in the process before the RFP, systematically obtaining business leads at earlier stages. The paper presents a business development mechanism, assisting engineering firms and contractors in generating leads systematically and staying ahead of their peers.