If You work in Proposal Management, here are Five Reasons Why You Should Budget for Benchmarking in 2016/17
In many sectors, benchmarking is seen as the key to continuous improvement and competitive advantage.
Here are five reasons why you should consider benchmarking your proposal management capability to improve your win rates in 2016/17.
- Benchmarking capability tells you where you are now, which is the first stage in getting where you want to go
- Benchmarking engages all stakeholders, and engagement is vital if you want to make a return on investment from any improvement initiative
- Benchmarking measures aspects of capability that predict future performance and that can be influenced by the team, unlike win rates which are lagging indicators over which the team has no influence
- Benchmarking identifies areas of good practice which can be replicated across the enterprise, by far the most efficient and effective way to improve performance
- Benchmarking today enables meaningful before / after comparisons to be made so that progress can be monitored
Benchmarking doesn’t have to be complex or time consuming, it should be simple and quick to implement so that it interferes with the day job as little as possible.
For a more comprehensive overview of how benchmarking can help drive a transformation programme, listen to a recent interview with Ian Sherwood or download the transcript.
Transcript: Engaging to transform win rates
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