How do you track and monitor your proposal progress and performance?

Defining proposal metrics is crucial for tracking and monitoring your proposal's progress and performance. These metrics serve as indicators of how well your proposal is meeting its objectives and requirements. They can be quantitative or qualitative, depending on whether they are measurable using numerical values or based on subjective judgment. Some common proposal metrics include schedule adherence, quality, compliance, competitiveness, and win rate. These metrics should be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) to ensure they align with your strategy and plan. By establishing clear metrics, you create a framework for tracking and monitoring your proposal's progress.

Before you define WHAT you want to measure, you first need to define WHO you want to measure it for. This will help guide you in aligning your proposal metrics to ensure they are SMART. (I’ve recently shared a presentation on this exact subject and happy to share a success roadmap to use - just DM me for more info.)

Define key performance indicators (KPIs) to measure the success of proposals, such as conversion rates, response times, or client satisfaction scores. Monitor these metrics regularly to gauge performance and identify areas for improvement.

Define criteria for each section: Clearly define what it takes to win in each section of the proposal. This helps measure progress by fulfilling these criteria rather than just checking off items on an outline. Storytelling: Note down the points to be included under each section and adjust it aliging to the story that should flow throughout the proposal. Know what it takes to win before starting: Establish clear goals and criteria before beginning the proposal process to ensure everyone is aligned and working towards the same objective

It helps to have a proposal manager who tracks all key metrics. Most people involved treat it as "another duty as assigned." Make sure someone owns the process.

When tracking and monitoring your proposal, choose tools like spreadsheets, software, or templates based on your budget, preferences, and needs. Spreadsheets are easy to use but prone to errors. Software automates tasks but can be costly. Templates simplify documents but limit flexibility. Consider the proposal's size, complexity, and integration with existing systems. Ensure the chosen tools align with your team's requirements and evaluate factors like user-friendliness, compatibility, and support. The right tools enable effective data collection, analysis, and reporting, leading to improved performance.

Utilize platforms like Trello, Asana, or MS Teams to create boards or tasks dedicated to each proposal. This allows you to track the progress of each stage, assign tasks, and set deadlines.

I use my proposal management database. It has a few hundred built-in proposal management KPIs for tracking pre-RP, RFP, post-RFP, and Rebid activities. Customized graphics and speech make it easy to understand and use the measures and metrics. The data persists over long periods of time so the user can identify trends and patterns.

I think, Implementing, tracking, and monitoring methods involves collecting, analyzing, and reporting proposal data. Establish baselines for metrics, conduct regular reviews with team members and stakeholders, and use feedback to improve. Generate clear and timely reports, emphasizing successes, difficulties, and recommendations. Adjust methods as needed to achieve proposal goals.

Avoid tracking progress with status meetings; that's a costly way of doing it and rarely justified. Build a PM board and track progress asynchronously at the task level. Proposals are one-off projects so don't overthink this; it's not as critical as in ongoing processes.

While I agree with the article, it feels as though metrics are being combined. There are metrics that are specific to the proposal that need to be tracked. Those should be managed by the proposal team. Business metrics such as win rates, should be tracked separately. These are shared outcomes among a sales/marketing/capture/proposal department. Combining them could cause confusion when trying to identify why a win or loss occurred. Separation can help isolate data and show where improvements need to be made, either in the proposal or in the pursuit.