Your bidding process can make or break the job…or even your bottom line. Here’s a few tips to help you when you’re ready to put “pen to paper” (or better yet, when you are ready to submit your bid through ProfitDig construction bidding software).
Want to make your life easier? Try ProfitDig – an easy, low cost, monthly service for construction job bidding and costing.
- Clearly define the scope of work: Make sure you have a detailed and accurate scope of work for the project, including all necessary materials and labor. This will help you accurately estimate the cost of the project and ensure that you don’t miss any important aspects.
- Use accurate cost data: Use reliable cost data from sources such as trade publications and material suppliers to ensure that your estimates are as accurate as possible.
- Include contingencies: Make sure to include a contingency for unexpected costs in your bid. This can help protect you from unexpected expenses and ensure that you don’t lose money on the project.
- Communicate with subcontractors: Establish good relationships with subcontractors and communicate with them early in the bidding process to get accurate estimates for their work.
- Review the plans and specifications carefully: Take the time to thoroughly review the plans and specifications for the project to ensure that you understand all of the requirements and can accurately estimate the cost of the work.
- Use project management software: Use project management software to help you track and manage the bidding process and keep all of the relevant information organized.
- Utilize value engineering: Consider ways to reduce costs while still meeting the requirements of the project through value engineering techniques such as using alternate materials or streamlining the design.
- Consider the long-term: Don’t just focus on the lowest bid price. Consider the long-term value of the project and the potential for repeat business when evaluating bids.
- Get multiple bids: Don’t just rely on one bid for your estimates. Get multiple bids from different subcontractors and suppliers to ensure that you are getting the best price.
- Negotiate: Don’t be afraid to negotiate with subcontractors and suppliers to get the best price for the project.