Capture Management Strategy
Start: 2010-04-29, Publication: 2010-05-02
When we examine why companies win or lose new business in the government market, the reasons are amazingly similar. Companies win more often when they focus on understanding customer requirements and objectives. They predictably lose more often when they don’t. Similarly, qualifying new business opportunities early in the business development life cycle results in better win rates, while late qualification results in fewer wins and cost increases in business development. These and other activities are strong indicators of how well a company will do in competitive procurements. This correlation provides clear evidence that companies can raise their win probabilities by performing certain activities well and in the right sequence, thereby establishing the basis for an efficient process known as capture management. Each company implements its capture management process to fit its culture and management structure, and all implementations should include the same fundamental activities.
Defining your process is the first step toward implementing capture management. This requires developing detailed procedures that mesh with your company’s corporate culture, along with supporting templates to make the process efficient. It takes several iterations to ensure that you establish a defined, repeatable process that works. Full endorsement and support by corporate leadership and management are critical to capture process success. Some stakeholders are reluctant to establish a prescribed process, arguing that they were successful without it and don’t want to change what has worked for them. Winning them over is a cultural transformation challenge that takes the full support of corporate leadership.
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