Whether you are just starting out or you are running an established construction company, getting and managing work are day-to-day challenges especially during this time. One of the biggest challenges of running a construction company is getting construction bids right. You need to bid enough projects and win the right work at the right time.
According to an article in idealCRM, there are many resources that list construction projects, such as:
- Checking bidding platforms
- Look for local, regional and national association websites
- Scan websites of Public Entities (Cities, towns, universities etc.)
- Call Owners, Property Managers, Developers, GCs
- Check GC Invite Portals
- Subscribe to a Platform that lists all projects in one site like DataBid.com
The construction bidding process involves the following steps:
- The Building Owner or developer puts together a bidding package consisting of drawings, specs, etc. and sends out Request for Proposals to General Contractors
- Each General Contractor requests pricing from their network of subcontractors
- General Contractors submit their bids by the requested deadline
- The Building Owner reviews all bids and selects the winning one
- Subcontractors compete against their own competition to win the project from the winning General Contractor
- The final contract is drawn up with all the applicable construction and legal terms.
- Construction begins
Measure Manage states that the only successful way for construction ambitions to become a reality is with an accurate construction estimate. Construction estimates provide an in-depth description of the project and the expenditures needed for the project.
The concepts that a cost estimator analyzes impact the total cost of a construction project. Therefore, having a compilation of detailed data points is imperative.
Construction cost estimators need to check out the following factors:
- Labor
- Materials
- Location
- Duration
- Special Machinery
- Building codes
- Soil conditions at the site
All of these factors can affect the duration, cost and even outcome of a construction project. In areas where extreme weather conditions are rampant, construction projects often drag and end up being over the budget.
The estimator must also account for factors that are not that easy to measure such as being able to predict possible market value fluctuations for materials.
At some point in the planning for the project, the arriving at budgets is crucial. The company must identify whether their spending cap is enough to turn their ambitions into reality. This can only be realized with an accurate and well-researched construction estimate.
Lastly, but more importantly, is the strategy to track down quality leads in the first place. Besides some crucial steps of successfully bidding on a commercial construction project in Chicago, the bidding process largely depends on the types of projects a contractor is interested in and then finding quality leads for such projects. Bidding on anything that mnay come your way is not wise if you tend to remain profitable and develop a successful portfolio.
In order to connect with potential clients, you need to grow your network. Besides the referrals and word of mouth, consider signing up with a bidding website such as DataBid.
Also, MasterMovingGuide.com talks about the importance of promoting your business as well as how to go about it. They believe visual aids and media are the most powerful tool for any business. With engaging content and good SEO, you have a much better chance of attracting and encouraging prospects to contact you for their construction projects.
