Have any of you had success with IDIQ contracts? My limited experience was not favorable. The company I worked with went through the expense to prepare the RFP and was even awarded a 2 or 3 year term that resulted in no work. I have another opportunity to pursue one, but I'm not convinced it is worth the time. Any insights appreciated!
shellarchitect
Sep 2, 15 2:37 pm
guess it depends on the client - my firm has a ton of small projects from the airport, a previous firm had a lot of work from the bus transit authority.
quizzical
Sep 2, 15 3:49 pm
wurdan: It does happen that you can be awarded an IDIQ contract and then never receive any work orders under that contract. But, as a general rule, that's the exception rather than the rule.
In my experience, IDIQ work is far from glamorous but can supply a fairly steady supply of work (and fees) during the life of the contract. You have to be very careful to design - and stick to - an efficient process to deliver these services so you don't lose money. But, if you can do that, IDIQ work can make a valuable contribution to the firm's cash flow.
Perhaps more importantly -- if you're trying to work your way into government work, IDIQ contracts are a great place to get started and develop a good reputation. If you perform well on IDIQ contracts the credential, relationships and references can be valuable when chasing other, more interesting, government projects.
Most likely, there will be a lot of firms -- many larger than your own -- chasing this same contract. Be prepared for that.
Good luck.
mightyaa
Sep 2, 15 7:43 pm
The way to approach IDIQ is think of it as a select list of approved vendors. Once you get it, you still need to market, get face time, and sell yourself so they'll use you.
Basically, you need to develop the relationship until you are accepted as a valuable resource.
wurdan freo
Sep 3, 15 2:59 pm
Appreciate all your insight.... Might be worth a go!
Have any of you had success with IDIQ contracts? My limited experience was not favorable. The company I worked with went through the expense to prepare the RFP and was even awarded a 2 or 3 year term that resulted in no work. I have another opportunity to pursue one, but I'm not convinced it is worth the time. Any insights appreciated!
guess it depends on the client - my firm has a ton of small projects from the airport, a previous firm had a lot of work from the bus transit authority.
wurdan: It does happen that you can be awarded an IDIQ contract and then never receive any work orders under that contract. But, as a general rule, that's the exception rather than the rule.
In my experience, IDIQ work is far from glamorous but can supply a fairly steady supply of work (and fees) during the life of the contract. You have to be very careful to design - and stick to - an efficient process to deliver these services so you don't lose money. But, if you can do that, IDIQ work can make a valuable contribution to the firm's cash flow.
Perhaps more importantly -- if you're trying to work your way into government work, IDIQ contracts are a great place to get started and develop a good reputation. If you perform well on IDIQ contracts the credential, relationships and references can be valuable when chasing other, more interesting, government projects.
Most likely, there will be a lot of firms -- many larger than your own -- chasing this same contract. Be prepared for that.
Good luck.
The way to approach IDIQ is think of it as a select list of approved vendors. Once you get it, you still need to market, get face time, and sell yourself so they'll use you.
Basically, you need to develop the relationship until you are accepted as a valuable resource.
Appreciate all your insight.... Might be worth a go!