The short answer is that it is similar to "decision." For a better understanding, read the following. ------------
Let me define some words, just in case.
Contractor: A person/company that builds large projects, like highways, bridges, or buildings.
Bid: The amount of money that the contractor says he can do the job for.
When the government decides to build a large project, it must allow several contractors to apply for the job. The process of applying is called "making a bid." The government agency will look at all the bids and choose one company to do the job. This is usually the company that said it could do the job (e.g. build the bridge) for the lowest amount of money. When the government gives the job to the chosen company, this is called the "award." Like I said above, for the purpose of this question, you can probably substitute "decision" for "award."
This is complicated, so please feel free to ask for clarification.