Decision Matrix Analysis

Do we bid?

This is a simple tool to use, based on four KEY questions: (1) Do we have the time; (2) Do we have the people, the capability? (3) Can we win? (4) Is the benefit greater than the cost? If the answer is ‘No’ to any of these, then you wouldn’t, would you?

source: tutsplus.com

This is a simple tool to use. You just answer the four questions in the following way: Go (5 points); No-Go (0 points); Consider Options (2 points) resulting in Bid – 14 points plus/ No Bid  – less than 14 points and the maximum number of points is 20.

Check out the mock bids attached. Choose one and read it through. You can then apply any of the tools in this section to evaluate and decide on a response as to whether you would consider bidding for funding from that programme. The Decision Matrix Analysis is also easy to use. Less than 14 points suggests you don’t apply for funding!

  • The first example of a mock bid on the topic of funding that addresses COVID-19 you can find here.
  • The second example on the topic of of regional regeneration grants you can find here.