Construction Management
5th Edition
ISBN: 9781119256809
Author: Daniel W. Halpin, Bolivar A. Senior, Gunnar Lucko
Publisher: WILEY
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Question
Chapter 3, Problem 5RQE
To determine
Explain the procedure used for receiving and opening of bids.
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List the processes of preparing bid estimates and briefly describe or explain each one.
Fudd Associates, Inc. submits a bid for $20 million.Mr. Fudd discovers at bid opening that all other bids areover $25 million. It is obvious that there is a mistake in hiscost estimate. Could he withdraw his bid after all bids areopened, but no winner has been declared? Why? Whatcircumstances would make you change your answer?
What should an estimator do when a bid is received from a subcontractor with a very low price, suggesting that the subtrade has made an estimating error?
Chapter 3 Solutions
Construction Management
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Similar questions
- During what period can a contractor withdraw the bid without penalty?arrow_forwardwhen doing a Bill of Quantity (BQ) for a tendering should all the cost of the items be included in the BQ. (I want to understand how the bill of quantity works in the tendering/ bidding process, and how it should look.arrow_forwardWhat is the difference in between of bid bond and face value in bidding process ? (or in real Construction project )arrow_forward
- How should the value of synergy be apportioned between the bidder and target firms? Do not pay for the portion of the synergy that comes from your strengths Avoid a bidding war Both A and B Neither A nor Barrow_forwardWhat are two or three things that might have been in a bid submittal that might result in the bid being declared unresponsive?arrow_forward. What is the proper method of responding to the bidder inquires during the bid phase of a project?arrow_forward
- Describe the procedures to be followed for the receiving andopening of bids. If possible, attend a bid opening and determinethe number of bids that were submitted. For severalunsuccessful bids determine the dollar amounts by whichthey exceeded the winning bid. Then calculate (relative tothe winning bid) the percentages by which they exceed thewinning bid. What do these figures tell about the strength ofthe current estimating and market environments? How muchdid the winning bidder “leave on the table”?arrow_forwardWhat is a nonresponsive bid?arrow_forwardHow is the Electronic Bid package provided?arrow_forward
- True or false? Within those jurisdictions where public contracts are subject to “Fair Subcontracting Laws” to prevent bid shopping, each bidder is required to list its subcontractors as a part of its bid.arrow_forwardDiscuss why contractors must make bid/no-bid decisions and the factors involved in making these decisions. Give an example of when a contractor should bid and when a contractor should not bid.arrow_forwardHow can the unbalanced bid be detected?arrow_forward
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