Goodness...wouldn't it be great if we could know ahead of time if we were going to win work with the proposal we just turned in to our local city, county, DOT, water authority, etc.??
Well, we can.
Or at least we can have a much better idea of our chance of winning based on Lead Indicators.
Ever heard of those?
To define a lead indicator, we also need to define a Lag Indicator. They're two sides of the same coin.
According to KPILibrary.com, "Lag indicators are typically "output" oriented, easy to measure but hard to improve or influence while lead indicators are typically input oriented, hard to measure and easy to influence."
Let's give some quick examples.
A very clear lag indicator is the posted contract awards by an entity. You find out after submitting that you either got a contract...or didn't.
Lag indicators will not tell us ahead of time if we have a good chance of winning a contract.
What do you think a lead indicator is for an RFQ/RFP win? I suggest we look...