PBM (Project Bid Management)

Project Bid Management (PBM) is the process of preparing and submitting detailed proposals to secure contracts for projects, typically in construction, engineering, or similar industries. It involves analyzing project requirements, estimating costs, developing competitive bids, and coordinating with teams to ensure all aspects are accurately reflected. Effective PBM helps organizations win new business while ensuring profitability and compliance with client specifications. It requires strategic planning, clear communication, and thorough cost assessment to create compelling bids that balance competitiveness with the company's capabilities.