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Construction Bidding: Unbalanced Unit-Price Bid

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Construction Bidding: Unbalanced Unit-Price Bid

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Questions and Answers

What is an unbalanced unit-price bid?

A bid where all items are priced equally

A bid where the contractor provides a fixed price for the entire project

A bid where the total cost is divided by the number of items

A bid where the contractor intentionally overprices or underprices certain items to gain an advantage (correct)

Why might a contractor prepare an unbalanced unit-price bid?

To reduce the complexity of the bidding process

To increase their profit margin on certain items (correct)

To eliminate the competition

To comply with government regulations

What is a potential advantage of an unbalanced unit-price bid?

It allows the contractor to showcase their expertise in specific areas (correct)

It increases the transparency of the bidding process

It reduces the risk of project delays

It guarantees the contractor will win the project

What is a potential disadvantage of an unbalanced unit-price bid?

It may lead to disputes over the final project cost Signup and view all the answers

What is the main goal of preparing an unbalanced unit-price bid?

To gain a competitive advantage over other bidders Signup and view all the answers

What is a primary reason a contractor prepares their own estimates of quantities for a competitive bid project?

To identify potential risks and opportunities for cost savings Signup and view all the answers

What is an underlying assumption when a contractor prepares their own estimates of quantities for a competitive bid project?

That the contractor's estimate will provide a competitive advantage Signup and view all the answers

What is a potential benefit of a contractor preparing their own estimates of quantities for a competitive bid project?

It enables them to better understand the project's requirements Signup and view all the answers

Why might a contractor's own estimate of quantities differ from the owner's estimate?

Because the contractor has a different understanding of the project's scope Signup and view all the answers

What is a key driver for a contractor to prepare their own estimates of quantities for a competitive bid project?

To ensure accuracy and accountability in the bidding process Signup and view all the answers