MWIS / CDABP TRAININGS
Lowery added that there are three major decisions that shape construction bidding. The first is which project delivery method is going to be used, what role the contractor is going to take in the process, and if the contractor is going to be helping with the design or implementing what’ s already been designed.
The second decision centers on what procurement method the general contractor is using. Contractors need to consider if they are making a decision based on best value, the low bid, negotiating, qualifications or single sourcing.
Third, said Olayiwola, it’ s necessary to know the contract type to determine how the pricing for the project will be structured. Contractors need to determine if it is a target price, a unit price, a lump sum, or guaranteed maximum price( GMP).
She explained that estimating is the process of putting the price together. She observed that estimating is both a science and an art, involves both intrinsic and learned skills, and requires taking measured risk. She pointed out that it is the estimator’ s responsibility to recognize both risks and opportunities, which means that the estimator should realistically, coherently and comprehensively evaluate and communicate risks.
Jane Olayiwola, Senior Contractor Development Manager for MWIS, reviewed the components of creating an accurate project budget and bid proposal.
FALL 2025 LA CONTRACTOR CONNECTION- 29