In This Week’s Newsletter:
- Competitive Intelligence & Pricing: Price-to-Win vs. Price-to-Execute
- Culture Corner: Building Connections
- AI Corner: Key Trends in Generative AI
- Opportunity Spotlight of the Week: MacArthur Foundation’s 100&Change
- Four To Follow: Get the lowdown on four interesting pursuits!
Price-to-Win vs. Price-to-Execute
Balancing “price-to-win” and “price-to-execute” approaches in competitive public sector procurements is essential. While the “price-to-win” approach focuses on competitive, customer-oriented bids, the “price-to-execute” approach identifies accurate cost coverage for project success. Combining both strategies can improve win probability, financial performance, and project quality, which leads to long-term success in public sector procurements.
Three Key Takeaways
1. Balance Competitiveness and Viability: Combining “price-to-win” and “price-to-execute” approaches results in bids that are competitive yet financially sustainable, improving both win probability and the chances of a successful project execution.
2. Thorough Analysis: Conduct comprehensive competitive and cost analysis to develop realistic bids that meet customer expectations without compromising on quality or profitability.
3. Value Proposition: Emphasize unique strengths, such as quality and innovation, to justify your pricing strategy and stand out in the competitive public sector procurements.
Building Connections
Developing deep professional connections, especially outside of one’s specific workplace is crucial to career growth and happiness. This is particularly true in the Business Development space! But where do you get started as an entry-level person or if you neglected your network during the pandemic? Here are some strategies to help you get out there:
- Networking Events – attend industry conferences, seminars, and networking events. These are great opportunities to meet new people in your field.
- Social Media – use platforms like LinkedIn to connect with professionals in the industry. Engage in discussions and share relevant content.
- Volunteer – offer to help on events or committees with your local industry organizations. Associations are often run by volunteers who are always looking for help.
- Mentorship – find a mentor or offer to mentor someone else, depending on your experience level. This can be a great way to build a strong, one-on-one relationship.
Want to start building bonds with others in the industry? Join volunteers from Hinz Consulting and the NCA Chapter of APMP to package 10,000+ meals for Rise Against Hunger.
Key Trends in Generative AI
Contact Josh: josh.thiel@hinzconsulting.com
Generative AI technology has certainly been on a rollercoaster ride over the past six months, with remarkable progress and noteworthy milestones. Let me steer you through some of the key trends and developments.
The Dawn of ChatGPT and Subsequent Developments: In the wake of ChatGPT’s release by OpenAI in November 2022, generative AI (or gen AI, if you will) has been stealing the limelight. ChatGPT, fuelled by the robust GPT-3.5, broke records by amassing 100 million users in just a few months. This set the stage for the mainstream use of language models.
The Evolution of Language Models: Gen AI technology has been continually evolving, with new versions being rolled out at a rapid pace. For instance, in March 2023 alone, we saw six significant breakthroughs.
The Emergence of Visual AI: The gen AI journey commenced with language models, but we’re now witnessing the dawn of visual AI tools. These advancements are reshaping the landscape across a spectrum of industries.
AI Adoption in the Business World: Gen AI tools have moved into the mainstream, integrating AI into our everyday conversations. Businesses are increasingly recognizing and embracing AI, leading to transformative effects.
The Generative AI Reset: There was a burst of enthusiasm in 2023, but now we see companies recalibrating their approach. Tapping into the immense potential value of gen AI is proving to be more complex than originally anticipated.
Progress Through Research: Institutions like Hinz, among others, persist in researching and tracking the advances of gen AI. The field is evolving rapidly, and we anticipate further breakthroughs in the months to come.
Generative AI has come a long way, leaving a significant mark on both the language and visual realms. Its potential economic value is colossal, and businesses are actively delving into its applications and implications.
MacArthur Foundation’s 100&Change
Contact Len: len.miller@hinzconsulting.com
The MacArthur Foundation is offering $100 million through its 100&Change competition to fund a groundbreaking project that addresses a significant social challenge. This prestigious grant is open to innovative proposals from any field and any part of the world.
The MacArthur Foundation is seeking solutions that are feasible, evidence-based, and capable of creating deep, lasting impact. Previous winners have made remarkable strides: Sesame Workshop and the International Rescue Committee have supported children in conflict zones, while Community Solutions is working to end homelessness in numerous U.S. communities.
If your project can make a significant difference, consider applying for this incredible opportunity. Finalists will be announced in spring 2025. This could be your chance to secure the funding needed to bring your vision to life and make a global impact. Hinz Consulting is prepared to help you develop this grant application.
Four to Follow:
- Exercises and Training Development Consultant Services:The HHS contracting office is determining any type of follow-on acquisition strategy for the potential recompete of the Cadmus Group incumbent contract which is currently valued at $24.9M. The current contract is expected to expire by the end of September 2024, so if the contracting office is going to recompete this, draft acquisition documents need to be released in June 2024 timeframe.
- Administrative Support Services to Desert Southwest Regional Office:The Dept of Energy (DOE) Southwest Regional Office is apparently contemplating the acquisition strategy for this $13M incumbent task order currently held by Rividium. It appears this task order was issued under a GSA task order with NAICS code 541612. As the current task order contract expires at the end of July, there is a high probability at a minimum we will see the current POP extended. Monitor your GSA eBuy accounts if you have NAICS 541612 on your GSA MAS contract.
- Nuclear Industry Advisory and Assistance Services Support (NE A&AS):It is anticipated that the DOE Idaho Operations Office will recompete the incumbent work currently being provided by Sigma Science whose contract is set to expire end of April 2027. This estimated $49M contract is expected to remain a small business set-aside with NAIC code 541330 Engineering Services. This gives potential qualifying small businesses time to get in front of this effort to improve your PWIN.
- DLNSEO Language Instruction Services:The DoD DHRA contracting office released an updated Presolicitation Notice on May 15 stating they currently plan on releasing the RFP on/around May 24. This is anticipated to be a full recompete of Multilingual Solutions’ estimated $9.6M small business set-aside contract. Should the RFP be released by the end of May, expect proposal submissions to be required by the end of June with the estimated award by the end of August since the incumbent’s contract is set to expire then.
About Hinz Consulting
Hinz Consulting provides services across the full business development cycle:
- Proposal Consulting
- AI Services
- Strategic Pricing
- Training
- Capture
- Competitive Intelligence
- BD Transformation Consulting
- Process/Methodology Consulting
- Tools and Templates
- Production Services
- Small Business
