Proposal work is usually treated as overhead. This worksheet turns it into an investment you can measure: cost per proposal, cost per win, hours saved, and a defensible return. Fill it in each quarter to see whether the proposal function is paying for itself.
It is the practical companion to Proposal ROI and Cost per Proposal.
A proposal function measured properly usually returns several times its cost. The measurement is what makes the case.
How to use this worksheet
Work through the four blocks in order – cost, output, return, ratio – and repeat the calculation on a consistent basis each quarter. Consistency matters more than precision: a number you can compare to last quarter is worth more than a perfect number you calculate once.
Block 1: Cost
| Input | How to fill it | Your figure |
|---|---|---|
| Proposals submitted | Count for the period | |
| Average hours per proposal | Tracked by stage if possible | |
| Blended loaded rate | Salary plus benefits and overhead | |
| Direct labor cost per proposal | Hours x loaded rate | |
| Opportunity cost | 0.5-1.0x labor, by utilization | |
| Rework allowance | Typically 30-50% of labor where process is weak | |
| Overhead | Tools, management, support | |
| Cost per proposal | Sum of the above | |
| Total proposal cost | Cost per proposal x proposals submitted |
Block 2: Output
| Input | How to fill it | Your figure |
|---|---|---|
| Proposals won | Decided outcomes only | |
| Win rate | Won / submitted | |
| Value won | Signed contract value, not pipeline | |
| Hours saved (process/reuse) | Baseline vs current, by stage | |
| Value of hours saved | Hours saved x loaded rate |
Block 3: Return
| Input | How to fill it | Your figure |
|---|---|---|
| Value won through proposals | From Block 2 | |
| Cost avoided through efficiency | Value of hours saved | |
| Total return | Value won + cost avoided |
Block 4: Ratios
| Ratio | Formula | Your figure |
|---|---|---|
| Cost per win | Cost per proposal / win rate | |
| Gross proposal ROI | (Value won – total proposal cost) / total proposal cost | |
| Return including efficiency | (Value won + cost avoided – total cost) / total cost |
A worked example
A firm submits 120 proposals a year at an average cost of $6,000:
| Line | Figure |
|---|---|
| Proposals submitted | 120 |
| Cost per proposal | $6,000 |
| Total proposal cost | $720,000 |
| Win rate | 33% (40 wins) |
| Average value per win | $90,000 |
| Value won | $3,600,000 |
| Cost per win | $18,000 |
| Gross proposal ROI | 4.0x |
Now improve selectively: submit 100 proposals instead of 120 (qualify out 20), hold the cost per proposal, and lift the win rate to 38% through better qualification and content.
| Line | Figure |
|---|---|
| Total proposal cost | $600,000 |
| Win rate | 38% (38 wins) |
| Value won | $3,420,000 |
| Gross proposal ROI | 4.7x |
Fewer bids, a higher return, and less capacity consumed – the compound effect of improving both levers at once.
What to include and exclude
- Include direct labor, opportunity cost, rework, tools and overhead on the cost side; signed value of attributable wins and measured efficiency gains on the return side.
- Exclude pipeline that has not closed, deals won without a competitive process, and one-off costs that will not recur.
- State the period, the attribution rule and the loaded rate assumptions, so the number can be compared over time.
Frequently asked questions
How do you calculate proposal ROI?
(Value won through proposals – total proposal cost) / total proposal cost. Use signed contract values rather than pipeline, and state your attribution method.
What counts as cost in the worksheet?
Direct labor at loaded rates, opportunity cost, an allowance for rework, and overhead – not just the visible proposal-manager hours.
Why track cost per win instead of cost per proposal?
Because winning is the point. Cost per win – cost per proposal divided by win rate – shows the real economics, and it falls fastest when you improve selectivity.
How often should the worksheet be completed?
Quarterly, on a consistent basis. A repeated, comparable number is more useful than a one-off calculation.
Next step
Download the Proposal ROI Worksheet, complete it for your last quarter, and compare it to the quarter before. See Proposal ROI for the method and Cost per Proposal for the cost side.
References
- APMP and Loopio benchmark data (via industry cost analyses): 25-41 hours and roughly $2,000-$10,000 in loaded labor per proposal.
- Loopio, 2026 RFP Response Trends & Benchmarks Report (1,500+ teams): ~40% of revenue tied to formal bids.
Figures are attributed to their sources and dated. The worked example is illustrative.