6 Questions
When does the primary contractor typically shop for subcontractor prices?
After the contract is awarded and the overall project price is known
What is the purpose of shopping for subcontractor prices?
To compare prices before deciding which subcontractor to use
Which of the following is an industry practice in most private and some public markets?
Shopping for subcontractor prices before awarding the contract
Which professionals' fees are negotiated in the pricing model of 'low bid wins' in the supply chain?
All of the above
Which pricing model repeats itself in each link of the supply chain?
Low bid wins
In which markets is the 'low bid wins' pricing model commonly used?
Both private and public markets
Test your knowledge on industry practices in private and public markets, specifically regarding subcontractor selection after contract award and project price determination. Explore the concept of 'shopping' for subcontractor prices and understand its significance in the construction industry.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
