Each business has its own specific needs and challenges as it competes in the public-sector marketplace. The Project Previews, plans and budgets in the Spending Forecast Center help address a number of these challenges.
Getting In early: The information within these documents represents how an agency intends to spend its money over the next 3-6 years. The capital planning and budgetary processes are fairly rigorous exercises, so the information in the plans is generally a good snapshot of the work that may result from them both near- and long-term. For architects, engineers, construction companies, IT firms, and other businesses that need notice before the bid or RFP announcement, these plans give them a chance to market their capabilities and be considered for the work.
Anticipate projects: With the market so competitive, being able to anticipate a bid or RFP that is a good fit for your business is a competitive advantage. Now you can call agencies in advance of the formal procurement to learn what you can about the work and build credibility and relationships. You’ll also be able to form partnerships and manage your own resources more effectively. When the projects come out for bid or RFP, your business is more than ready to respond.
Market sizing/evaluation: It's a real challenge to determine which cities, counties, states, and regions have the greatest potential for your business going forward. By aggregating the data found in Project Previews, capital plans and budgets by mar ket, businesses can get a good sense of where the money is going to be spent and for what. Tallying up the spending and types of work for specific geographies, businesses can compare markets and confidently identify the best locations and understand their potential.
Evaluate current opportunities: As your business pursues RFPs and bids, it is useful to know which projects may be the gateway to future work. By looking at the spending forecasts of the specific agencies issuing those procurements, you can make an informed evaluation concerning the future potential for similar work.