Tuesday, September 23, 2014

Impact of Bidding Schedule on Capital Project Cost

Project Planning Meeting
When bidding capital projects relating to the exterior building envelope, schedule needs to be a main consideration when trying to obtain the best competitive price. Historically, a way to yield effective results was to bid in the first quarter anticipating for work to begin in the spring, summer, or fall.
There are however additional savings that can be achieved if the bidding occurs in the fourth quarter as opposed to waiting until the New Year. With the schedule set for the construction period, the earlier the project is bid the better.

The new budget year is approaching and now is an excellent time to start planning for 2015 projects. Planning now will:

·         allow for concise, realistic budgets ready for next year

·         help take advantage of lower pricing (competitive bidding)

·         help avoid being lost in the contractor’s backlog

Benefits such as receiving the most competitive pricing, ensuring project completion meets all deadlines and engineering costs savings can be realized.


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