Winning bids is the bread and butter of working as a contractor. You have to find projects to bid for, complete site visits, attend client meetings and spend countless hours at a computer reviewing plans. The process can be time consuming but it truly is an essential part of being in the construction industry. Typical construction project bidding experiences can vary depending on the specific project and client requirements but, here are some general steps involved in the bidding process:
Prequalification: Before a contractor can bid on a project, they must ensure they meet the client’s prequalification requirements, which may include having a specific license, insurance, and/or bonding.
Bid Documents: The client will provide the bid documents, which typically include project plans, specifications, and other project details, i.e. the bid deadline and submission requirements.
Site Visit: Contractors will often visit the project site to assess the scope of work, site conditions, and any challenges that may impact the bid price.
Estimating / Takeoffs: Based on the project documents and site visit, the contractor will estimate the cost of labor, materials needed (a takeoff), and equipment needed to complete the project.
Submitting the Bid: The contractor will then submit their bid package to the client before the deadline. The bid package typically includes a detailed cost breakdown, qualifications, references, and any additional required documents.
Bid Evaluation: The client will review all submitted bids and evaluate them based on various factors, including price, experience, qualifications, and references.
Awarding the Contract: Once the client has evaluated all bids and selected the contractor, they will notify the winning bidder and award the contract. The contract will outline the scope of work, timeline, payment schedule, and other project details.
Project Execution: With the contract awarded, the contractor will begin executing the project, which may include coordinating with subcontractors, procuring materials, and managing the construction process.
The construction contractor project bidding process requires careful planning, estimating, and communication to ensure a successful project outcome. However, there are more construction projects than there are contractors which means you may not win every job your team bids on. Our quality assured takeoff documents give your bid a leg up compared to your competitor because we know they are completed with a high attention to detail.
Here at Takeoff Monkey, we understand, from our collective decades of estimating experience, that winning bids is a key element to running your business successfully. By outsourcing your takeoff process to Takeoff Monkey, your estimators will have more time away from the computer to perform more site visits and other essential job functions. By working collaboratively with our team, you’ll be able to increase your profit margin by completing more bids and taking on more projects.
