Federal Agencies put together their budget at the end of
each fiscal year for the next year. Once that budget is approved, it becomes
their forecasting report. Forecasting reports differ slightly from agency to agency. In general they are the list of goods and
services that the agency will be spending their budget on throughout the year.
Vendors can use these reports to get an idea which agencies have money
allocated to their goods or services for the upcoming fiscal year.
So how do you go about forecasting for your company? First
of all, we would suggest knowing which agencies you want to target. This can be
done by looking at what agencies spent the most in your industry in previous years.
USA Spending is a great resource for that information,
USASpending.gov. Once
you have your target list, you can begin looking at forecasting reports for
those agencies. Most agencies have a page on their website dedicated to
procurement. The Environmental Protection Agency’s page is a good example:
EPA
Procurement Forecasting Database.
Some agencies forecasting reports can be very general in the
type of information they provide, whereas other are very detailed. Generally we
can tell what they are forecasting (goods or services) and when they are
looking at purchasing it. Some tell you how they plan on purchasing it (open
competition, DoD EMall, GSA Schedule, etc.), who the technical point of contact
is, the estimated value of the contract, etc.
Once you have your list of opportunities from your targeted
agencies, what do you do with this information? First, we want to rank them by
priority. Typically the opportunities that will be posted the soonest take
first priority. We then recommend reaching out the point of contact. Whether it
is the technical point of contact or the general purchasing point of contact
found on the procurement page for that agency and begin a dialogue about that
specific opportunity.
When starting the dialogue you want to focus on two things,
one being building a relationship with the potential buyer and the other being
gathering information about the specific opportunity. The most important
question to ask when inquiring about an opportunity is if there is an incumbent,
if there is they should give you the name of the company. You also want to know
if they are happy with them and what areas they are looking to improve. Some buyers
are willing to share this with you while others are not so be prepared for a no
when you ask. If there is not an incumbent than you want to find out if they
plan on releasing a sources sought or RFI prior to the solicitation or if the
statement of work has already been prepared. If the statement of work has not
been prepared or finalized yet this means that you have a chance to offer up
your industry knowledge and expertise to the buyer.
There are many different questions you can ask depending on
the opportunity and the agency you are dealing with. Keep in mind the questions
you ask when looking at a current solicitation and begin to ask those of the
forecasted opportunities. Using forecasting reports as one tool in your
government marketplace arsenal will give you the chance to be a more successful
contractor.
