10 Tips to Winning Construction Bids
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Transcript of 10 Tips to Winning Construction Bids
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
10 TIPS TO CONSTRUCTION WINNING BIDS
How to take a slice of the $607 Billion plus market.
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
BEFORE WE START
• We will discuss the top 10 tips for putting together a
thorough and precise bid proposal
– Good bid preparation requires a lot of time and effort
– Read and fully understand the plans and specifications
– Accurately estimating costs for labor, materials and
equipment
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
SELECTING THE RIGHT WORK
• There is not enough time to bid on every
construction job
– Its never too late to abandon a bid you are working on
– Make sure the project is fit for your company
• In scope and requirements
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
COMPLETING THE BID FORM AND
REQUIRED DOCUMENTS
• Required documents and paperwork can be
anything from bid bonds to acknowledging receipt of
any addenda
– Use a checklist to make sure that everything is included
– Have another person in the team double check all
papers are included
– Plan to attend mandatory pre-bid meetings
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
TAKEOFFS AND MEASUREMENTS
• Take the time to fully review the plans and
specifications to determine accurate measurements
and takeoffs
– It is going to result in an accurate cost for construction
when calculating your bid
– Takeoff software can ensure that correct measurements
are obtained
– Use right units of measurement
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VISITING THE SITE AND ATTENDING PREBID
MEETINGS
• Have a good understanding of existing conditions
– Accessibility
– Location
– Cost
• Use a pre-bid meeting as an opportunity to discover
the terrain
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ARITHMETIC ERRORS
• Make certain that you have the correct numbers
– Double or Triple check if needed
• Calculator or Bid Software
– Manual calculations can lead to errors
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
EVALUATING
SUBCONTRACTOR PRICING
• Use prequalification process to asses whom you
wish to work with
– Review their pricing and if they can effectively complete
the construction project
• Prequal allows you to better understand their work,
experience, and past projects
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
IDENTIFYING AND MANAGING RISKS
• Identify, analyze, and evaluate each potential risks
individually so that they can be properly managed
and mitigated if or when they occur.
– How can each risk impact the project?
• Check a bid for mistakes before submission
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
MATERIAL AND SUPPLY COSTS
• Costs for building materials and supplies can
change rapidly
• Vary greatly in different areas of the country
– Call local suppliers to get up-to-date costs for materials
and delivery
– Make sure building materials and supplies required in
the specifications are clearly defined & clarify if needed
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
GETTING CLARIFICATION
• Do due diligence and ensure that you have all the
pertinent and accurate information of the project
– Plans, Specs, Bidding documents, dates, deadlines, and
etc.
• Ask questions by deadline
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
LABOR COSTS
• To determine your labor costs you have to factor in
hourly wage rates with the number of man-hours a
specific task will take to complete
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
10 Tips to Winning Commercial Construction
Bids
© Copyright 2015 Construction Data Company. All Rights Reserved CDCNews.com
Construction Data Company
Construction Data Client provides access to the industry’s most comprehensive and up-to-date database of verified construction leads. It means being able to search and track planning and bidding leads 24/7 from your desktop, laptop or mobile device with our user-friendly interface regardless of whether you are in the office or in the field. It’s saving countless hours tracking down bidding and sub-bidding opportunities so you can spend more time managing your business. With our 2 – 6 week lead time it means never missing out on a project because you heard about it too late.
Get the inside advantage of leveraging the relationships our veteran reporting staff has established with owner, architects, developers and general contractors to deliver the most detailed project information so you can make informed decisions on the projects you wish to pursue.
Bottom line, being a Construction Data Client means being partnered with a company that has a vested interest in the continued success and growth of your commercial construction business.