How to Effectively Place Bids for Construction Projects?
Bid placing is an important part of any contracting business. It takes the most amount of thinking for contractors. Still, it can be problematic for contractors. Only through the proper planning and placement, you can secure projects and your business can operate. This planning includes different aspects such as accuracy of the bid. You can contact us to have accurate construction estimating.
As a contractor, are you worried about your bid-winning status? This can be due to various mistakes that you make while bidding. If that is the case, you need to ensure these certain steps and increase your chances of winning projects.
Gain Insight into the Project
The first thing is to fully understand the project. This includes aspects such as design, site location, proximity to the town & the market, and possible budget of the project owner.
As you know all these things, you can make important decisions about the project. Among these decisions, the most important is whether you should go for any particular project or not.
Meet the Project Owner
The final decision is dependent on the project owner. Hence, it is best to know and understand the requirements of the project owner for the project. The best way to do this is by meeting him in person.
This meeting can be a game-changer for your business. At the end of this meeting, you have all the information about the project needed to win the project.
In order to contact and meet the owner, you can follow this procedure.
Get his credential
While some individuals only construct their houses once in a lifetime, others make their living out of construction projects. These undertake different sorts of projects for commercial gain and hence hold a portfolio of construction projects.
In the latter case, it is best to have a look at the previous project to understand the person. This needs to be done before meeting him. The previous works will give a deeper insight into the person and his likenesses.
Get his contact information
The best way to meet someone is to contact him and set a meeting. In order to contact, first you need to find the means to contact the person.
Make the call
The next thing you need to do is to make the call. You can reach out through call or email to set the meeting. Make sure that the time and place are comfortable for both you and the project owner.
This meeting can include a site visit and sitting with the project owner. It can give you the insight you need about the site location and the project owner’s intended outcome. This way you can make the most reasonable decision.
Get an Accurate Estimate
Once you have decided which project is right by going through different projects and their owners, you need its estimate. This includes estimating every required labor and material along with their specifications and cost.
You can contact us to get the estimate. We even offer estimates against incomplete project plans for your ease.
Find Your Competitors
Know that other contractors too are bidding on the same project. These contractors can bid better than you and win the project. Therefore, you need to know about your competitors. This is often carried through architects.
Project owners hire architects to suggest alterations and finalize the project plan. They also often consider the architect’s opinion about the contractors. That is why you need to contact the architect.
How to find other contractors?
Architect’s information is given on the title page of the project plan. Contact him and find out about all the other contractors interested in the project. In the case of being a subcontractor, you can bid to them and in the case of being a general contractor yourself, you can bid for the project according to them.
Develop Follow Up of Your Bid
Once you have submitted your bid in accordance with the acquired estimate and competitor information, you need to follow up on it. You need to show the prospective project owner to realize that you are interested in the project genuinely. Otherwise, your bid might be just used as a benchmark to find the right contractor.
Hence, you need to practice these:
- Interact with your potential clients
- Check in for progress regularly and after certain intervals
- Share and showcase your work previous work
Re-Go Through Your Efforts
Lastly, go through all your effort and check that everything is done properly. If not then you have to guess the loss at hand from the whole project to any minor loss. Also, if possible, you can rectify this to achieve your objective.
Everything Summed Up
Bidding is the most vital step to winning construction projects and keeping the business running. Hence, it needs to be done in the best possible manner to impress the project owner and get the project.
The procedure to secure project the following projects:
- Know about the project
- Meet the owner
- Get material and cost estimate
- Learn about the competition
- Bid for the Project
- Follow up on the bid
- Double check everything
- Share your feedback with us!