By Sylvie MacKenzie, Director, Marketing-Oracle on Jan 28, 2015
Written By Garrett Harley
How much does it cost you to find new projects?
The engineering and construction industry wastes millions of dollars just seeking new work. On average, companies only win one out of every four jobs they pursue, squandering resources and limiting growth potential. That means a $10 billion company wastes $75 million annually on failed bids.
In a typical engineering and construction organization, rarely do the teams that prepare the estimates for project bids and the teams that deliver those projects share information. Many geographically distributed companies allow each operating group in the company to bid on projects autonomously—loosing the opportunity to cross-sell services. The lack of collaboration at the very beginning of a project can lead to errors and omissions during project execution, which impacts margins and can lead to future claims.
With the introduction of Oracle’s Primavera Project Bid and Execution, Oracle is breaking new ground in this key area. This new solution transforms the process, enabling organizations to improve their approach to new business development. Maximizing lead-to-contract performance improves customer connections, increases win rates, reduces the cost of bidding, manages risk, and builds a balanced portfolio of profitable work.
A formalized approach to bid pursuit will help firms realize opportunities, better use resources and manage risks, which leads to better data assurance, increased business confidence, and higher win rates.
For more information on Oracle’s Primavera Project Bid and Execution, watch the Webcast: Transforming Construction Project Execution.