3. By the end of this lecture, you will:
1. Define the steps of Tendering.
2. Define the components of contract
documents.
3. Estimate Tender price.
4. Prepare a balanced and unbalanced bid.
3
6. 1.Decision No
to Tender
Yes
1.Inspecting Contract Documents Do nothing
2.Decision
to Tender No
Yes
3.Estimating Process
4.Tender Adjustment
5.Submitting Tender
18. Tender price = Direct cost + Indirect cost +
General- overhead + Profit & Risk
Alternative Structures of Tender Price
Construction
Construction
Direct Cost Direct Cost
Cost
Cost
Net Cost
Tender Price
Tender Price
Indirect Cost Indirect Cost
General Overhead General Overhead
Markup
Profit and Risk Profit and Risk