The scoring system for Readiness Reviews can be used to quantify your progress and readiness.
- By tracking your readiness you can ensure that you trend towards being ready.
- By tracking across multiple pursuits you can identify exactly what is helping or hurting your win rates.
Will You Be Ready In Time for RFP Release?
Readiness Reviews lend themselves to providing metrics. Across a single opportunity you can track whether you are trending up or trending down with your readiness. You should score and track your Readiness Reviews at three different levels:
- Individual questions
- Average score by category (Customer, Opportunity, Competitive, and Self Awareness)
- Average score by Readiness Review stage (1-4)
If you track them using a spreadsheet or even a table, you can see whether you are trending towards green or towards red. Obviously you want to see the trend going to green.
If people do not understand the Readiness Review process or the expectations of the reviewers, their initial scores may be low. However, you should see these trend up in subsequent reviews. If the team loses focus, you may see scores start to slip. The whole idea of having Readiness Reviews is that you know if people lose focus and can catch it in time to turn it around before the RFP is released.
Your readiness for RFP release can also be quantified. Each question is assessed a red/yellow/green score. These can be converted to numbers (1-3) or even percentages. This may help lend the process to other forms of metrics analysis and probability assessment.
Tracking Across Multiple Pursuits
Across multiple pursuits, you can track how your readiness impacts your win rate by:
- Converting your red/yellow/green assessments to numeric values
- Comparing the scores of individual questions to your win rate
- Comparing the average score at each Readiness Review to your win rate
- Comparing the average score per category (Customer, Opportunity, Competitive, and Self Awareness) to your win rate
Doing this will show you whether relative strength or weakness in an area (question, category, or review stage) is an indicator of win probability.
Return to the Introduction to Readiness Reviews Topic Hub.