Business Development & Opportunity Identification Flashcards
7 cards from real CMP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Business Development & Opportunity Identification flashcards as text
What is the primary purpose of attending an industry day hosted by a federal agency?
Answer: To gather intelligence on agency needs, network with potential teaming partners, and ask clarifying questions
Industry days provide BD professionals with direct access to agency personnel, competitive intelligence, teaming opportunities, and insight into forthcoming procurement requirements.
A BD manager is reviewing the company's pipeline and notices that 80% of opportunities are in the final proposal stage. What risk does this indicate?
Answer: An imbalanced pipeline with insufficient early-stage opportunities to sustain future revenue
A pipeline concentrated in late stages signals poor upstream opportunity development, meaning future revenue will suffer once current pursuits are resolved.
Which approach best describes 'relationship-based selling' in a government contracting BD context?
Answer: Building long-term trust with government stakeholders by consistently delivering value and insight
Relationship-based selling in government BD means developing trusted advisor relationships with agency stakeholders through consistent value delivery, insight sharing, and mission alignment.
What is the significance of the North American Industry Classification System (NAICS) code in federal business development?
Answer: It classifies the type of procurement and determines applicable size standards for small business set-asides
NAICS codes classify the type of business activity in a solicitation and determine whether a company qualifies as a small business under SBA size standards for set-asides.
In capture management, what is 'black hat' analysis used to assess?
Answer: How competitors are likely to approach the opportunity and what their proposal strategy will be
A Black Hat review involves simulating a competitor's proposal strategy to identify how they will position against you and where you are vulnerable.
Which business development activity is most effective when an agency has just published a new strategic plan?
Answer: Mapping the strategic plan priorities to your capabilities and scheduling customer visits to discuss alignment
Aligning your capabilities to a newly published agency strategic plan and engaging customer stakeholders early creates positioning advantage long before solicitations are released.
What is the primary risk of relying solely on a 'request for proposal (RFP)-driven' business development approach?
Answer: It eliminates the ability to shape requirements and reduces win probability due to late market entry
An RFP-driven approach means you enter too late to shape requirements or build customer relationships, resulting in lower win probability and reactive rather than strategic BD.