Lump sum contracts are helpful for property owners during the bidding phase, but during construction, owners have to be mindful that the head contractors are incentivised to come in under budget. For that reason, many owners choose to hire a construction manager as their representative on the jo...
Focussing on construction procurement in Hong Kong, this exploratory study examines: (i) the level of bidding information feedback from public, private and quasi-government client groups, and (ii) the sources, types, uses and adequacy of bidding feedback information from these client groups from ...
A bid bond is a guarantee from a surety company to the project owner that a contractor is able to fulfill the obligations of the contract and provide contract bonds before work begins. A bid bond is a type of bid security that provides assurance to the principal (typically the owner) that...
Performing accurate cost estimates is important to win high-ticket projects in the construction industry. On the other hand, having relevant subcontractor bids as options is important to reduce contract management risks. To achieve success both as a bidder and client, using construction bidding softwar...
219). The only activity was to develop the site under a government contract, which Broakes regarded as a ‘lucky escape’, given the over-estimation of platform demand. Williams's remit was to expand rapidly in the service and supply sector, direct E&P involvement being ruled out. As joint...
A construction schedule and a schedule of works share things in common, but they’re differentproject documents. A schedule of works is a contract, a construction project schedule is not. The schedule of works lists the work that must be completed on a construction project, but a construction...
Bid phase:Next, the owner shares the project drawings for bidding to choose the best construction team. Contractors estimate construction costs based on the design process, project delivery methods, materials, labor, and timeline Build phase:After signing the contract, all materials are ordered to ...
3.Meanwhile,this paper gives advice on implementingconstruction general contractto decrease the management difficulty of local government and keeping the construction quality.基于上述情况,提出采用设计总承包协调各设计单位工作、提高设计质量,加强项目前期策划工作,制定切实可行的项目管理计划和实施组织计划,促进施工...
Thanks to that, you can choose the tender winner that fits you best. Or, split the contract between two suppliers and get even better financially from the bidding process. Custom evaluation criteria and automated selection Price is essential in tendering processes. But it shouldn't be the only...
As such, you may be required to submit a bid bond when bidding construction projects—especially if they’re government or large private contracts. 4. Bid selection There are rules, especially in government projects, to ensure that the lowest bidder wins the contract. This rules out any fraud...