How to Succeed at Bidding and Estimating
For several reasons , the process of bidding and estimating is an essential part of successfully competing for and winning bids in the construction industry . Accurate estimation helps to control costs throughout the project lifecycle and ensures that the project is completed within the budget and timeline agreed upon with the client . Bidding allows contractors to compete for projects , and accurate estimating give contractors an advantage in winning contracts by presenting competitive and realistic pricing .
Robert Lowery , Field Support Project Executive for Merriwether & Williams , a HUB International Company ( MWIS ), recently discussed the critical components of successful bidding and estimating strategies . Topics reviewed included delivery models , types of bidding and estimating software , how to set up an estimate , how to determine your costs , insurance and bonds needed , and pricing .
According to Lowery , there are four key construction documents to keep in
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