Bidding is popular in the construction industry. An organization will announce a project where qualifications will be posted and a time will be allotted to let interested construction companies to send in their bids or proposals. These proposals will be evaluated and the best one will win the project. Construction bidding can be competitive. It takes knowledge and skill to strategize a winning bid. Note that it isn’t always the bidder with the lower price that gets the project. There’s a lot more to it that’s why contractors spend time studying the plans and specifications for their winning proposal.
General contractors have certain points to consider when preparing for a bid. For one, the cost of materials to be used has to be accounted for. It is best to list everything that you will potentially need based on the plans and specifications provided including labor, rental of equipment if any, fuel, and trucking among others. Having this list will also reflect how prepared you are for the project. Aside from looking at the technical side of things, your proposal should prove that you are most capable of doing the job with the highest quality.
Check out the main considerations you should note when preparing a winning bid in a recent article from For Construction Pros. They write, “A lot of companies never track their true overhead and add it into their bids. There are four main categories you should be including in what you bill your customers, and whatever the sum of those numbers is your bid, period.”