August 9, 2022

How to Manage Risk in Australia Through Pre-Qualification Questionnaires?

Pre-Qualification Questionnaire (PQQ), is a list of predetermined questions suppliers and contractors submit when bidding on a job. In Australia, this is an essential part of the bid writing process. It does not matter if you are bidding for a well-known private sector or public sector company. It is generally required for bidding in the public sector, but it can also be required in certain situations for private-sector bidding.

PQQ's are a great way to identify the best supplier, especially for the public sector. It allows you to quickly shortlist the most likely suppliers. This is especially important when there are many bids. You can also browse this link to learn more about trusted pre-qualification platforms for companies. These questions can relate to either the financial status of the contractor, details about the company, or specific skills or expertise in which the proposal is being sought.

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In Australia, it is possible to be asked for detailed information about your company and the background of your company's directors. You will also need to demonstrate your ability and suitability to complete the task. You can also provide details about previous work similar to the one you are bidding for.

Your company's financial position must also be proven. PQQ may ask for your bank details, total turnover over the past two years, and the current monetary position of your company. The banker will need to be referred.

Scores are based on answers. The contract is awarded to the bidder who scores the highest. It is important so don't treat it as a box-ticking exercise. Ask all questions. It can be used to improve your company's image and make things work in your favor. It is a great feeling to be able to claim that your company is the best bidder.