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ABC construction is planning to participate in bidding for a project. The estimated bid value prepared...

ABC construction is planning to participate in bidding for a project. The estimated bid value prepared by the estimation and costing department

a. is the same as project estimated direct cost plus indirect cost.

b. is only an estimate and will be negotiated if contract is awarded by government.

c. has nothing to do with the type of contract.

d. is possibly quite different from the estimate for the costs as it is driven by other factors as well.
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Answer #1

a. is the same as project estimated direct cost plus indirect cost.

Usually, the customers prefer to go for the bid price that is cheapest but at the same time, meets all the specifications of the contract as expressed by the customers. In this regard the bid price needs to be kept competitive by the contractors. In order to achieve the same, it could the same as project estimated direct cost plus indirect cost, for estimated bid price purpose.

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