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Procuring public tenders is not as easy as it may seem. There are essential best practices that must be implemented to succeed. Any minor oversight can lead to losing the bid. This is why there are procurement guidelines that must be followed to ensure success. These guideline comprises of the following steps:

Initiation Process: It is logical to say that a project becomes official when specific requirements are fulfilled. There has to be funding to support execution of the project. Additionally, there must be well defined goals and objectives. Most importantly, every project has unique features, but share common features. These features govern the potential for the success of the business.

• Defined Scope to be achieved within the defined time
• Agreed deadline for outcomes
• Availability of resources and the anticipated outcomes must be defined.
• There must be a project owner responsible for all costs related to the project. This includes managing investments, time management and safety liability.
• Experienced team working on the project to match the complexity of the project.

Managing time, quality and budget of the project are the three most important best practices that are important for a standard public tender.

Procurement Strategy: Procurement means the act of acquiring resources/supplies, services and the work. Work can be achieved from a public body that can place contracts for large projects. The process involves utilizing public money to accomplish a job for the interest of the public. Procurement begins with the need for a job, and ends with completion of the contract.

Procurement strategy involves best practices for making important decision. It also involves the effect of associated events/processes to acquire goods, services and the other supporting aspects for the business. These decisions must be made before the tender is placed, as is best described as the pre-tendering procurement strategy. Therefore, depending on the project and nature of the job, the procurement strategy must comprise of the following best practices:

• Define the list of things to be purchased
• Identify the source of deliverables
• Determine an appropriate and accurate procurement method
• Draft terms and conditions of the contract in the tender document
• Evaluate the bids that must be organized
• Details must be presented in standard format in compliance with audit-proof  ways

Evaluation and Contract Award: This best practice requires verifying the eligibility of the applicant for the tender. This also required fulfillment of the criteria needed for the evaluation, according to the Public Procurement Directorate. The tender is awarded after the applicable legislations have been provided. These must be in accordance to the framework required in order to acquire the tender. The contracting authority can decide to cancel or suspend the announcement of the tender procedure. This happens if requirements have not been satisfactorily fulfilled.

Negotiation Process: The contracting authorities must cooperate with economic operators. This best practice ensures that officials are familiar with national and community legislatures. Thereby, it makes specialized technical, financial and legal assistance available.

Contract Implementation: After all these best practices have been successful, the public tender is issued and work begins.

Best practices in public tender improve chances of success for contractors.

Further reading: Corporate Governance | Audit | Performance Improvement