For a construction and industrial assembly company to be financially viable, it must achieve positive economic results in the work or services it provides.
When the awarded project has its origin in a bid with errors, the project will not be profitable…
How to Estimate and Bid
To start a lucrative business, the bidder must submit a correctly evaluated offer in each bidding process.
Quoting with certainty is decisive for executing a contract lucrative.
The submission of offers with prices far from the market average undermines the commercial relationship between the proposer and the client.
When the bidder presents a budget that is too low and has the misfortune of being awarded the work, he will inexorably have to deal with negative financial results since expenses will exceed income.
If the offer has a very high value compared to the competition’s proposals, it will surely be out of the price competition.
This last situation, although less onerous than the previous one, harms their finances because of the increase of general expenses.
The conclusion is that when quoting, we must carefully study each step in order to present a reliable offer.
The elaboration of each economic proposal is, without a doubt, a decisive task in the management of a construction and assembly company.
How to Make a Reliable Winning Bid – Construction estimating
For budgeting it is necessary:
-That the person or group responsible for preparing the bid for the tender be diligent and carefully study the proposal to eliminate errors.
-Study and verify compliance with the specifications.
-To have own experience in the construction and assembly of what is being quoted.
-Use emotional intelligence and reconcile criteria with other colleagues or specialists to deepen the knowledge of what is being quoted.
-To be aware of the resources available and the capacity of your company.
-Know how to apply worker performance tables, what equipment to use on the project, etc.
The reliability provided by a well-prepared estimate is a vital necessity for the proper functioning of any company.
Check out the next post about the steps to follow to prepare a reliable bid.
In successive publications we will review how to estimate the time and cost of a project reliably for construction and industrial assembly works.