Bid Management is managing an application for participation in a project, which includes planning, execution, and subsequent analysis of the results.

The specifics of management in this area are the correct execution and maintenance of an application chosen by the customer. It has to become profitable for the company. By applying for participation in the tender, the project management manager plunges into the domain area where the client works and carefully studies its specifics, regulatory framework, and standards adopted. Responding to a tender, the participating company must work out, draw up a plan, and estimate in advance. And subsequently correct all this together with the client. This approach meets the basic principles of waterfall development, backed up by detailed documentation.