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Vendor Bid Analysis
Vendor Bid Analysis (Vendor analysis) is a technique used to figure out the cost of a project by comparing the bids submitted by many suppliers. This can be accomplished by considering the costs (via quotes, bids, proposals, etc.) presented for project work. By using a selection criteria divided into categories, vendor proposals have to meet these criteria or may be eliminated. Evaluating Bids While analyzing the bids of a product or service, the buying side may consider the following: * Records from previous deals * Meeting with quality needs * Seller capacity and resources * Meeting deadlines in records * Financial capability See also * Construction bidding * Design–bid–build * Cost estimate A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. The cost estimate has a single total value and may have identifiable component values. A proble ... References External lin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction Bidding
Construction bidding is the process of submitting a proposal ( tender) to undertake, or manage the undertaking of a construction project. The process starts with a cost estimate from blueprints and material take offs. The tender is treated as an offer to do the work for a certain amount of money (firm price), or a certain amount of profit ( cost reimbursement or cost plus). The tender, which is submitted by the competing firms, is generally based on a bill of quantities, a bill of approximate quantities or other specifications which enable the tenders to attain higher levels of accuracy, the statement of work. For instance, a bill of quantities is a list of all the materials (and other work such as amount of excavation) of a project which have sufficient detail to obtain a realistic cost, or rate per described item of work/material. The tenders should not only show the unit cost per material/work, but should also if possible, break it down to labour, plant and material costs. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Design–bid–build
Design–bid–build (or design/bid/build, and abbreviated D–B–B or D/B/B accordingly), also known as Design–tender (or "design/tender"), traditional method, or hardbid, is a project delivery method in which the agency or owner contracts with separate entities for the design and construction of a project. Design–bid–build is the traditional method for project delivery and differs in several substantial aspects from design–build.Beck, L. R.Design-Build in California: Current Law and Practice ''McDonough Holland & Allen PC'', accessed 11 September 2023 There are three main sequential phases to the design–bid–build delivery method: *The design phase *The bidding (or Call for bids, tender) phase *The construction phase Design phase In this phase, the owner retains an architect (or consulting engineer for infrastructure works) to design and produce bid documents, including construction drawings and technical specifications, on which various general contractors will ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |