11th Hour Bid Day Simulation w/ Drexel University (6-9pm)
Time & Location
About the Event
11thHour Bid Day Simulation - OVERVIEW
What is a “Hard Bid”?
Many estimators for general contractors spend at least some part of their careers helping their company get work by submitting a type of proposal that is often called a “hard bid”. This type of proposal typically requires that the general contractor prepare a single lump sum bid for an entire project that is then submitted to a project owner in a sealed envelope by a certain time on a certain day – known as Bid Day. All the submitted general contractor bids are then opened and read out loud for all to hear, and the contractor submitting the lowest complete bid is usually awarded the project contract.
Why do a Hard Bid Simulation?
The general contractor often has 35 or more different trades of work involved in a project for which they receive subcontractor bids. With five, ten or more proposals submitted for each trade, and most of those submitted on Bid Day, the general contractor has to review dozens if not hundreds of bids in the space of a few hours. The contractor may assemble a team of 4 to 10 estimators in a “war room” to accomplish this task. This program aims to simulate the last couple hours of this intense and sometimes hectic process – the “11th hour”!
Many owners, architects, trade contractors, suppliers and other industry members become involved in hard bids in one way or another, but have not had the opportunity to see the process from the perspective of the general contractor. Some general contractor estimators have not participated in this type of work process either, if they are new to the field or work for companies that do not typically participate in hard bid procurement. This simulation provides the opportunity to see how it is done – without the risk!
What is in the Hard Bid Simulation Program?
The complete program packet provides instructions, forms and documents for presenters to use to provide a fun, fast-paced and realistic experience.
Goals of the program include:
- Educating general contractor estimators who have not had the opportunity to be exposed to the pace, workflow and best practices of reviewing bids and compiling a proposal submittal in the environment of a hard bid on bid day.
- Providing trade contractors with the experience of receiving and reviewing trade contractor bids from their client’s perspective.
- Providing students, architects, owners, and others with an appreciation for the benefits and drawbacks of using this method of project procurement.
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