In a developing city, you can expect to see construction work left and right. It is a considerable source of business for construction companies. There is a lot of competition for construction project contracts, and the clients are looking to work with whoever can offer the best presentation as they open the bidding process. If you are one of these bidders, a well-prepared construction bid will serve you well. Speaking of well-prepared, come and take a look at our website's selection of ready-made construction bid templates. you can edit them to suit your needs, and they are available for instant download. Check out our templates and save time now.
How to prepare a construction bid
Depending on how well you do, preparing a bid might mean that you can win a construction contract or not. Preparation is the key, and there is nowhere that this could ever prove to be true than in the construction industry. This might sound obvious, but clients will only work with the most prepared general contractor that can also save them money. So, how to prepare? You can start by reading the tips we provided down below. so get to reading, you have work to do
1. Find Out What You Need to Know
This portion is where it all starts. Clients upon opening a bidding process will release specifications like the dimension of the future building, deadline of completion, and the budget allocated. This essential to planning and management. So before drafting your bid, make sure to read every information, every detail that could be gained from the submitted specifications. From there, you can begin your research so that you could identify everything you will need to undertake the building project from materials like concrete and steel bars to the workforce required. Do extensive research visit the proposed site and conduct a preliminary survey of where the building would be built. Your research will be necessary for the upcoming steps.
2. Provide a Detailed Estimate
The extensive research you conducted will be vital in this part of the preparation. Once you identified the needs of the construction project needs like material and manpower, you can then proceed to do the estimate of what these will cost. You can go around and talk to subcontractors, ask for itemized price layout or the cost of their service package. Once you've done your canvassing, you can begin your calculation for the timetable and the necessary expenses. Be extra careful with this because a miscalculation can cause you a lot of trouble down the line.
3. Your Draft for the Bid Should be Detailed
Ok, so you've done your research and calculated your estimates. Now you draft your bid. First, you should choose a suitable format since there will be lots of numbers in this document, it would be best to display your calculations on a spreadsheet you can use either MS Excel or Google Sheets for this.
Another thing you should include in your draft is the scope of work. Again you should refer to your research for the details. Your client would most likely look for other alternatives, so it would help if you yourself could provide these.
4. Provide a Detailed Payment Method
Let's say you're done with the details of the project. You can then inform the client how much you will charge them. Remember that your client has specified the construction budget for the project, so if you go over the budget, you can certainly kiss that contract goodbye. Again your research will be beneficial here. Charge your client appropriately. Next, you can explain the details of the payment. Don't forget to include the work schedule. Lastly, to avoid unplanned changes to the bid, you should add a clause about changing the orders. This is so that you can protect yourself from additional expenses.
