Best Value Method
A procurement method focusing not just on the lowest bid but on the best value for money. It's important for ensuring quality, functionality, and efficiency in construction projects.
The Beginner’s Guide to Construction Bidding
If you’ve read anything about bidding before, you’ll know there’s lots of industry jargon. But to keep things simple for now, here are a few key terms and concepts you should know.
Bidding
How to Bid Construction Jobs: 8 Tips To Boost Your Success Rate
Bidding and winning new jobs is how construction firms stay in business. But putting together sharp, competitive bids takes strategy and know-how.
November 27, 2023
Contract Management
Hard Bid Construction: The Essentials of Competitive Fixed-Price Contracting
Explore the key elements of hard bid construction, a competitive fixed-price contracting method, in this comprehensive guide.
December 8, 2023
Cost Analysis
A Simple Guide To Construction Markup - Discover How To Track Your Profits
Discover the difference between construction markup and margin. Avoid underpricing or overpricing projects with our guide on calculating the right markup
December 19, 2023
Project Planning
Bid Leveling in Construction: Choose The Best Subcontractors For The Job (Fast)
Master bid leveling in pre-construction to choose the best value subcontractor, not just the lowest bid. Avoid risks and ensure project success
December 13, 2023
Project Planning
Construction Bidding Requirements: A Guide To The Process
Win more contracts with effective construction bidding. Learn key construction requirements, and avoid common mistakes for success."
December 18, 2023
Cost Analysis
Construction Cost Analysis: A Comprehensive Guide
Construction cost analysis is vital for successful projects. It assesses expenses, identifies savings, and informs decisions.
December 18, 2023
Bidding
Construction Tendering 101: All You Need to Know
Discover the basics of construction tendering, including types, processes, and its critical role in selecting contractors.
December 18, 2023
Contract Management
Lump Sum Construction Contracts: A Comprehensive Guide to Fixed-Price Contracting
Discover the details of lump sum construction contracts and fixed-price contracting in this comprehensive guide. Essential for contractors and project owners.
December 12, 2023
Bidding
Mastering Invitation To Bid In Construction To Attract The Right Offer
Learn to master the art of construction invitation to bid to attract the perfect offers for your projects. Essential for contractors and project owners.
December 12, 2023
Bidding
What Are the Types of Bidding in Construction? A Deep Dive Into the Basics
Explore the various types of construction bidding methods. Gain a deep understanding of the fundamentals. Essential for contractors and project owners.
December 18, 2023
Bidding
What is a Bid in Construction, and What's Its Purpose?
Accurate construction bidding ensures competitive pricing and quality, involving various bid types and methods tailored to different projects and client needs.
December 15, 2023
Bidding
Where to Bid on Construction Jobs? The Top 3 Sources to Land Your Next Building Project
Discover the top 3 sources for bidding on construction jobs and securing your next building project. Essential guidance for contractors.
December 15, 2023
Project Planning
What is Bid Tabulation? How It Can Make or Break Your Next Big Project
Learn about bid tabulation in construction: its purpose, components, benefits, and how it ensures fair and transparent contractor selection for project success.
December 28, 2023
Contract Management
What is a Cost Plus Construction Contract? Uncovering the Secrets of Flexible Building Budgets
Cost plus contracts in construction cover actual costs plus fees, ideal for uncertain projects. They offer flexibility and quality focus but risk higher costs and lack of cost control. Best managed with clear documentation, communication, and cost caps.
December 27, 2023
Technology & Tools
How to Read Construction Drawings & Set-up Bids for Success
Guide to reading construction drawings and strategies for winning bids, focusing on scope identification and risk mitigation.
December 28, 2023
Project Planning
Bid Documents for Construction Projects Explained: Essential Guide
Construction bid documents detail project specifics like design, materials, costs, and contracts for contractors to submit suitable bids
January 6, 2024
Project Planning
Bid Format For Construction: A Complete Review
We'll discuss the bid format for successful proposals. Construction bid packages are vital for winning contracts, detailing project requirements, and showcasing contractor qualifications, approach, scope, and costs.
January 6, 2024
Cost Analysis
Construction Budgeting: A Comprehensive Guide
Master construction budgeting for project success. Learn to manage hard and soft costs, contingency funds, and avoid common mistakes with our guide
December 21, 2023
Contract Management
Design Bid Build Process (DBB): All You Need to Know About the Process, Pros, Cons
Learn about the Design Bid Build process in construction: its phases, benefits, drawbacks, and when to use it for project success and cost efficiency."
January 6, 2024
Technology & Tools
FREE Bid-Leveling Template To Crush Bid Day
Free bid leveling template for construction: ensures seamless bidding with detailed RFP guide and bid comparison. Saves time, minimizes errors, and includes extra tabs for cost estimation and project management
December 22, 2023
Cost Analysis
How To Calculate Labor Cost In Construction - The Only Guide You Need
Guide to calculating construction labor costs: essential for 40% of project budgets, covering wages, benefits, taxes, and software tools. Avoids profit loss and delays.
December 26, 2023
Technology & Tools
What is a Blueprint Takeoff? A Comprehensive Guide to Construction Takeoff Process
Comprehensive guide on construction takeoff, detailing material estimation and process efficiency for contractors
January 12, 2024
Contract Management
Design-Build Construction Process: The 5 Stages Explained
Design-build in construction streamlines the process by combining design and construction in one contract, promoting teamwork, efficiency, and cost-effectiveness.
January 10, 2024
Technology & Tools
Best Bid Invitation Software: Top 5 Bidding Tools
Discover the top efficient construction bid management softwares that streamlines the procurement process using AI, creating bid invites quickly and centralizing all tasks and communications for clients and contractors.
January 11, 2024
Bidding
Construction Bidding Process Explained: Your 2025 Guide
Explore the balance between competitive bidding and profitability in construction, the impact of bid prices, and strategies for winning bids in a challenging market
January 10, 2024
Project Planning
Request For Proposal In Construction - A Deep Dive Into RFP Strategies
A guide to construction RFPs, detailing project scope, deadlines, and objectives. It emphasizes understanding and customizing RFPs for successful bids.
January 11, 2024
Project Planning
Scope Of Work In Construction: The Only Guide You Need To Understand It
Essential guide to construction scope of work, covering project management, contractor responsibilities, quality, timeline, and crucial contract details.
January 13, 2024
Technology & Tools
SmartBid vs Downtobid: The Best in Construction Bidding Software
Choosing construction bidding software? Compare Downtobid & Smartbid
January 18, 2024
Contract Management
Negotiated Bids Construction: Mastering These Winning Contracts
Explore key insights on construction bidding: distinguishing negotiated and competitive bids, their pros and cons, and strategies for mastering each to boost profitability
January 17, 2024
Bidding
What is Competitive Bidding? A Comprehensive Construction Guide
Learn how competitive bidding in construction gets you the best deal. This guide covers its workings, benefits, and tips for both buyers and sellers.
January 18, 2024
Bidding
Construction Bid Package Example: How to Structure an Invitation That Gets Reliable Quotes
Guide to construction bid packages: what they include and how to structure bids effectively.
January 22, 2024
Contract Management
Guaranteed Maximum Price Construction Contracts: Everything You Should Know
Explore GMP contracts in construction: their benefits, risks, and how they compare to fixed-price contracts for complex projects.
January 19, 2024
Cost Analysis
Construction Cost Estimating Checklist - Guide for Accurate Budgeting
Unlock the secrets to precise construction cost estimating with our in-depth checklist. Essential for professionals seeking accurate budgeting in projects.
January 22, 2024
Bidding
Risks in The Bidding Process: 7 Common Pitfalls (and How to Avoid Them!)
In construction, effective bidding with risk management is key for project success, addressing uncertainties in costs, supply chain, and procurement.
January 22, 2024
Technology & Tools
FREE Invitation For Bid Template: Downtobid
Downtobid revolutionizes construction bidding with sophisticated tools and offers a free, effective Invitation to Bid template
January 24, 2024
Bidding Glossary
If you’ve read anything about bidding before, you’ll know there’s lots of industry jargon. But to keep things simple for now, here are a few key terms and concepts you should know.
01
02
Bid Bond
A financial guarantee that a bidder on a construction project will enter into the contract at the bid price. It's important for ensuring the seriousness and commitment of the bidder.
03
Bid Package
A set of documents provided to potential bidders detailing what is required for a construction project. It's crucial for ensuring that all bidders have the same information and understanding of the project.
04
Bid Selection
The process of choosing a contractor for a construction project based on their bid. It's important for ensuring the project is awarded to the most suitable, efficient, and cost-effective bidder.
05
Bid Tabulation
A document that lists all the bids received for a project and their details. It's important for transparency and fairness in the bid selection process.
06
Bid-Hit Ratio
A metric representing the number of successful bids divided by the total number of bids submitted. It's important for assessing a contractor's competitiveness and effectiveness in winning projects.
07
Bid
A proposal by a contractor or supplier to perform work or provide materials at a certain price. It's the fundamental element of the competitive bidding process in construction.
08
Bidder Qualifications
The criteria set by a client to determine if a bidder is capable of successfully completing a project. It's important for ensuring the quality and reliability of the selected contractor.
09
Bill of Quantities (BOQ)
A document listing the quantities and types of materials needed for a construction project. It's important for budgeting and ensuring accurate procurement of materials.
10
General Contractor
A contractor responsible for overseeing a construction project and hiring subcontractors. The general contractor is key for ensuring the project is completed on time, within budget, and to quality standards.
11
Cost Plus Contract
A contract where the contractor is paid for all construction-related expenses plus a specific agreed-upon profit. Important in scenarios where scope is not well-defined, allowing flexibility but requiring careful cost control.
12
Construction Drawings
Detailed drawings and specifications used in the construction of a project. They are essential for accurately conveying the design intent, ensuring that the construction is carried out according to plan.
13
Contractor
An individual or company contracted to perform construction work. Contractors are crucial in turning design plans into physical structures, ensuring the work is completed efficiently and to the required standard.
14
Design-Bid-Build Contract
A project delivery method where one entity designs, contractors bid, and the selected contractor builds, ensuring clear design-construction separation and competitive bidding.
15
Estimate
An approximation of the cost of a construction project. Accurate estimates are crucial for budgeting, bidding, and financial planning in construction.
16
Field Measure
The process of measuring conditions at a project site. Accurate field measurements are crucial for ensuring that construction elements fit precisely and according to design.
17
Guaranteed Maximum Price (GMP)
A contractual agreement where the contractor is compensated for actual costs up to a ceiling price. GMP is important for providing cost certainty to the owner and incentivizing efficient cost management by the contractor.
18
Addendum
An addendum updates contract documents before bid due dates, ensuring fairness by providing all bidders with current information.
19
Inclusions
Items or services that are included within the scope of a contract. Understanding inclusions is crucial in construction to clarify what is provided by the contractor and avoid misunderstandings.
20
Invitation for Bid (IFB)
A formal invitation to contractors to submit a bid on a project. It's a crucial step in the procurement process, ensuring competitive bidding and transparency.
21
Leveling
The process of making a surface or foundation level and even. In construction, proper leveling is essential for ensuring structural stability, preventing uneven settling, and ensuring proper drainage.
22
Low Bid Procurement
A procurement method where the contract is awarded to the lowest responsive and responsible bidder. Low bid procurement is important for promoting competitiveness and cost-effectiveness in the construction bidding process.
23
Low Bid
The smallest bid offered in a competitive bidding process. In construction, the low bid is often, but not always, chosen for contract awards, balancing cost with quality and capability considerations.
24
Lump Sum Contract
A contract where the contractor completes the project for a fixed price, offering cost certainty to the owner but requiring precise estimation and risk management.
25
Negotiated Contract
A contract where terms, conditions, and prices are settled through direct negotiation between parties, rather than competitive bidding. It's important in construction for enabling flexibility and potentially faster agreement on complex projects.