Posted by Billy NY on July 26, 2011 at 03:50:23 from (74.67.3.54):
In Reply to: Under bid on a job posted by 37chief on July 25, 2011 at 16:57:05:
That is why the "lowest responsive bidder" is not always the best one to award to, look at the reason for the gap, often times its a mathematical error, or an oversight on the scope of work, when I see a differential like that, immediately a red flag comes to mind for problems down the road.
Sometimes things get too competitive, reducing profit margins to the point where your equipment, manpower etc. is better off being idle. It's not worth the overhead or the wear/tear to break even.
One thing about the lump sum contract is you absolutely must make sure there are no gross mathematical errors or big ticket items overlooked. Another is after award, when encountering problems, (realizing there are only so many hours in the job) having a decision making ability to stop the clock, re-evaluate and make necessary changes to make sure the outcome is successful, (profitable). Nothing is perfect, bad jobs come up, its the other good ones that carry you, you just don't want several in a row or consecutively.
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