![]() ![]() In such cases, the contractor is permitted to submit a Projects for which the quantity of materials or the amount of labor involved in some key Lump sum bid represents the total price for which a contractor offers to complete aįacility according to the detailed plans and specifications. Normally submitted on either a lump sum or unit price basis, as stipulated by the owner. In the public sector, the rules areĬarefully delineated to place all qualified contractors on an equal footing forĬompetition, and strictly enforced to prevent collusion among contractors and unethical orĭetailed plans and specifications are usually prepared by an architectural/engineeringįirm which oversees the bidding process on behalf of the owner. Restriction of bidders to a few favored contractors. In the private sector, the owner hasĬonsiderable latitude in selecting the bidders, ranging from open competition to the Previous experience and financial stability. The definition of a qualified contractor usually calls for a minimal evidence of Owner, and the invitation of qualified contractors to bid for the right to execute the Plans and specifications of a facility based on the objectives and requirements of the The basic structure of the bidding process consists of the formulation of detailed Pricing arrangements can be described broadly to illustrate the basic principles. Without addressing special issues in various industry segments, the most common types of The form of the legal documents binding the owner and the supplier(s) of the facility. However, all pricing arrangements have some common features in Infrastructure, there are smaller segments which have very different environments with Within each of the major categories ofĬonstruction such as residential housing, commercial buildings, industrial complexes and Vary by type of facility and location as well. ![]() The factors influencing a facility price will Project cost including field supervision expenses plus the markup imposed by contractorsįor general overhead expenses and profit. The construction contract price includes the direct Construction Pricing and Contracting 8.1 Pricing for Constructed Facilitiesīecause of the unique nature of constructed facilities, it is almost imperative to haveĪ separate price for each facility. Risks and Incentives on Construction QualityĨ. Project Management for Construction: Construction Pricing and Contracting Go Up to Table of Contents
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