An Organisation needs to understand its niche, the area where it can show its expertise and where it has handled contracts effectively in the history. Also, an organisation should remain in mind whether it can upgrade itself to the stage of the contract they are bidding for in case they are opting for something that's wholly out of their main line business.

Selecting a Tender is very crucial for any organisation. A vast amount of hard work is required after selection of a tender. But, a company should give utmost importance to the first step itself i.e. selecting the tender itself. Massive amount of hard work can be wasted if a business bids for a tender that is way out of its reach or something that the company lacks the basics for.
Some of the main points while selecting a tender to bid are:
Understand yourself: This is the pre necessary to any bidding. An organisation should have a clear understanding of itself. It should know the market it covers the kind of clients and projects it can handle and last but not the least its limitations. You can have a big tender writer hired for you and you can get away with good presentations. But, deep inside an organisation should be crystal clear about its restrictions.

Check with Potential Competitors: Believe it or not, you must to be updated with what the other companies are doing. Since you both will be hostility for the same market and hence the same contracts, it becomes very important that you have an edging over your participants when you go on the field.

Market Analysis: Analyse the market type you want to target. You can make a list of companies and the markets they cater. Review the modern contracts in the past, their revenues, costs and profits. An organisation should remain specific with the kind of business it wants to do and shouldn't keep running behind the projects that makes no wisdom for it to take up and finally waste its capital and time.

The edge can be in conditions of quality, finances, history, insurance, etc. What's important is the edge. Something that tells the client that yes! You are able of doing this project.
Something that sets you alone from your competitors. Something that can make your company stand out in the chase for that contract you are bidding for.

Happy Biding!