BUS310_NdubizuW5Assignment

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Grantham University *

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310

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Jan 9, 2024

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1 Submission of Bids Ositadima Ndubizu Grantham University BUS310 Intro Federal Acq & Con Mgmt 02/13/2022

2 Submission of Bids The bidding process can be likened to a job-seeking process. A construction biding is a process of presenting a prospective customer with a proposal to construct or manage the construction of a structure. It also entails pitching subcontractor services to general contractors. The highest number of bids by contracting companies fail to go through due to the competitive nature of the construction sector (Smith, 2017). There is a need to explore the processes of submission and opening of bids in sealed bidding. Winning construction bids entails understanding the crucial elements of the bidding process. Submitting and winning bids is an integral aspect of any successful contracting firm. It is the method through which firms acquire new projects to bring revenue to the company. Even though the bidding process can be complex and lengthy, it presents an opportunity to expand revenue and business networks, when done effectively. The process of construction bidding entails submitting a bid form or proposal to the general contractor, construction boss, or owner. In most cases, construction bosses or general contractors gain bids from subcontractors by inviting parties to present their proposals. Subcontractors acquire the details about the bid, review the requirements, and identify if they would be a perfect match for the work. They then submit comprehensive proposals to the construction manager. The submission should include firm information, past projects, cost estimate, management strategies, and track records for timely completion of projects. After review, the bid is awarded to the subcontractor who is considered to be the best value. Even though the price is the most considered element, other essential factors include bid capacity, experience, and previous works (Smith, 2017). Therefore, being the lowest bidder does not necessarily guarantee a win. A general contractor can disqualify a low-price subcontractor and choose a middle one to minimize the risk level.

3 Different public organizations seeking a Request of Quote (RFQ) use online portals for bid submission. A contracting business must familiarize itself with the nature of the online portals used to submit the bids to ensure that the proposal goes to the right platform. Organizations in the private sector have varied preferences. While digital submissions are the most common due to ease in distribution, some companies may request printed bids (Tso, Liu & Hsiao 2019). It is essential to keep in mind the submission deadline because lateness can lead to automatic disqualification. After submission, the process of bid opening follows. The vendors do not have to be present during bid opening, but they may send representatives to help identify vital aspects such as the major competitors and their pricing approaches. The process can be lengthy based on the number of submissions received and the structure of the proposal form. Bids are opened, read loudly, and recorded even if some contractors may be absent (Willging et al., 2016). The representatives then sign the records document to show that they attended the opening and adhered to the outlined procedures. The bids are then reviewed to ensure that they comply with the requirements, are signed, and dated correctly, and the cost calculations are accurate. The bids are later tallied and listed according to the quoted price. The general contractor then awards the bid to the lowest bidder (or the one that meets the desired qualifications). The administrative team then sends letters highlighting the outcome of the award process to all the vendors who sent their bids. The winning bidder is notified if they need to submit or fill in additional documentation. Some organizations include the presentation platform where the vendor may be required to provide additional information about the proposal. The stage allows vendors to decide if there is room for adjustments and request to deliver a revised bid later. It is crucial to

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4 maintain professionalism and meet the delivery deadlines to increase the chances of winning bids in the future. To sum up, winning construction bids entails understanding critical elements of the bidding processes. As the term suggests, there are no guarantees in the process, and it remains a highly strategic activity. Regardless of some similarities, a bid is more complex than a job- seeking process, and it requires a vendor to demonstrate adequate knowledge of the field and the bidding procedure. The winner is mainly selected based on cost, but the lowest price does not always interpret the best value. There is a need to consider other factors such as experience and safety. The submission and bid opening are fundamental phases in the bidding process. Bidders are required to adhere to the submittal requirements outlined in the advertisement and instruction sections. The organization receiving the bids must ensure that the rules are enforced. Opening happens publicly, and those present include individuals representing the contractors and record keepers. The bidding process often feels like a subtle balancing act whereby vendors are confronted with a myriad of challenges, including identifying the right contracts and crafting winning proposals.

5 References Smith, A. J. (2017). Estimating, tendering, and bidding for construction work . Macmillan International Higher Education. Tso, R., Liu, Z. Y., & Hsiao, J. H. (2019). Distributed E-voting and E-bidding systems based on smart contract. Electronics , 8 (4), 422. Willging, C. E., Aarons, G. A., Trott, E. M., Green, A. E., Finn, N., Ehrhart, M. G., & Hecht, D. B. (2016). Contracting and procurement for evidence-based interventions in public-sector human services: A case study. Administration and Policy in Mental Health and Mental Health Services Research , 43 (5), 675-692.

BUS310_NdubizuW5Assignment

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