You’ve just received bids on a construction project estimated (by your engineer) to cost about $2 million. The lowest bid is for $1.5 million, and the next highest bid is $1.9 million, with the other bids ranging from $2.1 million to $2.3 million. After reviewing the bids, you think the lowest bidder must have made […]
Posts Tagged ‘responsibility’
Prequalification: Good, bad, or indifferent?
Tuesday, October 20th, 2009Your local government is planning a major construction project, and the engineering firm working with you on the project has strongly recommended prequalifying contractors before bidding. The engineer tells you that this will ensure that the bids you receive are only from serious, qualified bidders, making the bidding process more efficient. This sounds appealing to […]