The direct and indirect costs estimated by a contractor for bidding a project is 160000 and #20000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in) of the contractor is
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- A contractor wishes to participate in the bidding for a government project and submitted documents for eligibility screening or pre-qualification. The ABC for the project to be bid is P328,644,200.20 with a duration of 20 months. The document submitted by the contractor showed that the largest single project similar to the project to be bid undertaken by the contractor in the last 3-years has a value of P163,866,528.45. Will the contractor be qualified to participate in the bidding for the project? Why?On a unit-price contract, if a contractor includes a unitprice of $145.00 per meter for 765 meters of pipe to be constructed in place, but incorrectly shows the extended amount as $110,952.00, exactly how much money should be included in the total bid price?The direct and indirect costs estimated by acontractor for bidding a project is Rs. 160000and Rs. 20000 respectively. If the markup appliedis 10% of the bid price, the quoted price (in Rs.) ofthe contractor is----
- The activities involved in the construction of a small building are given below. The price of the work contained in each activity is listed in the table. The contractor undertaking this project would like you to prepare graphs of cumulative expense and income to date against time for activities starting as early as possible. The mark-up is 10% of tender value and retention is 5%. Measurement is made monthly with a payment delay of one month. The retention is paid at the end of the contract. To simplify the calculations, you may assume that all costs must be met by the end of the month in which they are incurred. What is the maximum amount of cash the contractor needs to execute this contract and when does he require this amount? No. Activity Duration (months) Predecessors Overlap Value (LE) 10 20 30 40 50 60 Excavation Concrete bases Erect frames Concrete floor slab Fix cladding Install plant 2 3 1.5 1 1.5 1 - 10 20 20 30 40, 50 - 1 1 1 1 - 9000 12000…If a contractor was selected based on his best price and best technical aspects from his bid documents, this award method is called: Select one: O a. Bidding O b. Best bid c. Best value d. Traditional In case of completing the project with lower cost than agreed on in the lump sum contract, extra money is always kept to the contractor. Select one: a. False Ob. True Direct cost of a project includes Select one: a. All answers are correct O b. Material and equipment cost c. Subcontractor cost O d. Labour costDuring what period can a contractor withdraw the bid without penalty?
- The direct and indirect costs estimated by a contractor for bidding a project is Rs. 2,40,000 and Rs. 40,000 respectively. If the mark up applied is 10% of the bid price, the quoted price (in Rs) of the contractor isList three general reasons why actual costs may exceed estimated costs on a lump-sum contract.Q1) Choose the right answer for each of the following. a) A field change is typically issued for work that changes the cost or duration of a project. b) What is the name of the contracting method in which the owner uses only its own employees to perform the construction work?. c) What is the name of the contracting method in which the owner contracts with one firm for both the design and construction?.. . d) A bid that is grossly unbalanced can be interpreted as being irregular and thus rejected. e) Which type of contract is appropriate when the actual costs of a project and scope of work are difficult to estimate with accuracy?... f) For which type of contract does the project definition/scope of work not need to be clearly defined?.. g) Added work that is required to complete the project but which is considered part of the contracted scope of work (and therefore no added money is provided) is called: h) Which two types of contracts require the owner to maintain additional staff to…
- Explain why the bid estimates are not always equivalent to the finalcontract amount after the project is completed.On a unit-price contract, how much money should be included in the overall bid price if a contractor specifies a unitprice of $145.00 per meter for 765 meters of pipe to be erected in site, but wrongly reports the extended cost as $110,952.00?What means are available to a contractor bidding a unit-price project for recovery of “General Conditions Work” (mobilization, bonds, insurance, cost of permits, and other preconstruction expenses)?