This where the consultancy takes stock of the current situation and decides whether to continue with the effort or not. In simpler cases, many of these steps are intuitive or simply skipped completely.
Does an internal consultant have this option?
Re-Assess the Opportunity
- Understanding of the prospects needs expectations deadlines and budgets.
- Agreement on approach (phasing and milestones).
- Available resources and skills.
- Methodologies, tools and techniques.
- Opportunity costs.
- Final risk assessment.
Decision to Propose or Not To Propose
- Financial and professional risk
- Cost / revenue / profit
- Probability of success (relationships)
- Long term / short term business impact
- Alternatives to this opportunity – have we got better options?
- The “elegant no bid”
o not now
o another approach
- An aggressive “no bid” – the RFP is not up to scratch
- Some of the best business decisions are “No bids”
- Do we wish to proceed further?
- Is it worth our while?
- If we proceed, we put more effort into the process.
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Describe in a paragraph what the key purpose of MANREACT acronym is?
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