Nycholas Burns’ Post

A subcontractor's chance of winning a bid is often less than 7%. This startling statistic reveals a lot about: → the inefficiencies in our industry's traditional bidding process. Let's break it down: → Typically, at least 5 General Contractors (GCs) bid on each job → Each trade has a minimum of 3 subcontractor bidders → Subcontractors are pre-qualified and only invited to bid on jobs they can perform → Bids can be disqualified for numerous reasons This system, while competitive, raises some serious questions: → Are we really getting the best value, or just the lowest price? → How much time and money are wasted on unsuccessful bids? → Does this process encourage innovation and quality, or just cost-cutting? Perhaps it's time we rethink this outdated approach. What if we focused more on collaboration and building the best team for each project, rather than simply choosing the cheapest of many prices for a scope? This shift could lead to: → Better project outcomes. → Stronger industry relationships. → Efficient use of everyone's time and resources. What's your experience with the bidding process? Have you seen alternative approaches that work better? *** P.S.: Ready to take your next construction project to the next level, → we're here to help. Contact us today to learn more about how we can bring your vision to life.

PROVISIONAL SUMS A provisional sum is used to refer either to (A) work which is truly provisional, that it may or may not be carried out at all, or to (B) work whose content is undefined. A provisional sum is usually included as a round figure and is added to the contract price. The contract usually provides how provisional sums are to be dealt with. Inaccurate estimation of provisional sums can result in financial disputes, delays or disruptions to the project. Defining the scope of provisional sums before tendering, incorporating the provisional sums into the programme and limiting the value of provisional sums are key measures to minimize the risks of using provisional sums. N.B. The purposes accomplished by nominated subcontracting may be achieved in other ways than by the use of nominated subcontractors. - - -

The 50-25-25 rule is changing how contractors win bids: 50% price, 25% relationship, 25% follow-up. Which part do you find most challenging in your tender process? Share your experiences below!

Essentials for Successful Commercial Construction Bidding Elevate your commercial construction bids with strategic insights and informed decision-making. Master the art of bidding, from direct owner engagement to navigating competitive landscapes and understanding labor agreements. Position yourself at the forefront of success with our top considerations for winning bids. If you need an estimate or any quotation for your project, reach us 📧Info@suryagroup.us #ConstructionBidding #CommercialConstruction #StrategicBidding #SuccessTips #Generalcontractor #GC #subcontractor #contractor

Are you making the third mistake in tendering? It's not conducting a bidder's meeting. How many times have you heard, 'Oh, I didn't include that in my price'? Or thought to yourself, 'You submitted a bid without visiting the site?' 🤔 You need to conduct a mandatory bidder's meeting. Here's why: 1️⃣ It ensures bidders are serious about bidding the work. 2️⃣ It ensures they're aware of current site conditions and critical project details. During the meeting, discuss access points, timelines, client expectations, and anything unusual about the project that could impact pricing. Pro tip: Call the bidders to ensure they know about the meeting or send a calendar invite a week before. Good contractors are busy and might miss your email. Confirm if the meeting is mandatory, and stick to it. If some contractors don't show up, don't allow them to submit bids. Your goal is to get all bidders to the site to understand the scope fully. This strategy minimizes conflicts during the construction phase. Don't skip this crucial step! 👍 #TenderingTips #ConstructionManagement #BidManagement #ContractAdministration #ConstructionTech #ContractComplete

🔗 The Future of Project Bidding: Personalized Contractor Selection 🔗 #ConstructionInnovation #ContractorSelection #StateSpecificContractors

Simplify Your Bidding Process and Win More Projects! Contractors, are you struggling with the complexity and time-consuming nature of the bidding process? We get it—preparing accurate bids while managing ongoing projects can be overwhelming. But it doesn’t have to be. At Edge Estimates, we provide precise cost estimating and material takeoff services tailored specifically for the construction industry. Our goal? To help you submit competitive bids that not only win projects but also maximize your profitability. 🔍 Why Choose Us? Accuracy: Our detailed estimates reduce the risk of underbidding or overbidding. Speed: Get your bids prepared faster, giving you more time to focus on what you do best—building. Expertise: With years of experience, we understand the nuances of the construction industry and provide estimates you can trust. 💡 Let’s Connect! Follow our page for industry tips, insights, and exclusive offers designed to help you succeed in your business. Don’t miss out—click 'Follow' and start winning more bids today! #ConstructionLeads #Contractors #BiddingProcess #CostEstimation #MaterialTakeoff #ProjectManagement #ConstructionSuccess #GeneralContractors

Price escalation clauses can be a game-changer for construction contracts, helping contractors manage market volatility and providing project owners with crucial cost predictability for materials and labor. In our new article, J. Daniel Weidner and Taylor Hayes explore how these clauses work and why they’re essential for both parties. 👉 Read more to discover how these clauses can benefit your next project: https://lnkd.in/gQXx49a5 #constructionlaw #constructioncontracts #contractmanagement

🚧 Avoid the 4th Biggest Tendering Mistake! 🚧 Failing to verify bid details can cause project delays and budget overruns. Ensure all quantities and prices are accurate before finalizing contracts. Double-checking bids saves time, money, and prevents headaches. Implement a thorough review process to maintain project integrity and build trust with your contractors. Are you ready to boost your construction firm's efficiency? 👇 https://hubs.li/Q02zg28q0 Book a demo at the link above to see how we can help! #TenderingTips #ConstructionManagement #BidVerification #ContractComplete

Need to find a qualified contractor to provide a third bid for a project? Through Bid Source, we will locate a qualified contractor for your next project. Try BidSource today: https://bit.ly/3UnaitV #PropertyManagerInsider #PMI #Contractor #PropertyManagement #IndustryNews