Bid Management is the process of overseeing and controlling the bidding process for projects or contracts. It involves creating, submitting, and tracking bids to ensure they meet the requirements of potential clients or organizations. Effective bid management helps businesses win contracts by presenting competitive and well-structured proposals. A successful bid management strategy includes analyzing project specifications, coordinating team efforts, and managing deadlines. Tools and software can assist in streamlining this process, making it easier to collaborate and maintain organized documentation. Ultimately, good bid management increases the chances of securing valuable contracts and growing a business.