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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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”?
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?
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…
Chapter 3 Solutions
Construction Management
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Similar questions
- Briefly explain the bid review/analysis process. Describe the steps involved in the bidding processarrow_forwardWhat 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?arrow_forwardContractor X is developing his bidding strategy against contractor Y. The ratio of Y's bid price to X's cost for the 30 previous bids in which contractor X has competed against contractor Y is given in the Table. Ratio of Y's bid Number of bids Price of X's cost 1.02 6. 1.04 12 1.06 3. 1.10 6. 1.12 3 Based on the bidding behaviour of the contractor Y, the probability of winning against contractor Y at a mark up of 8% for the next project isarrow_forward
- 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 isarrow_forwardTrue 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_forwardIf 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 costarrow_forward
- How is the Electronic Bid package provided?arrow_forwardHow 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_forwardOn 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?arrow_forward
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