The Construction Estimating Bid Recap Training Course at Imperial Corporate Training Institute teaches professionals how to evaluate a construction bid after it is received and implement cost control methods into each bid to ensure that the bids are properly analyzed for the following: accuracy, completeness and profitability. Participants learn how to properly analyze a construction bid after bidding has closed, so they know all of the specific requirements of the job at the time they submit their bid. The training helps participants develop a knowledge base of how to identify the discrepancies between what is requested and what was offered; evaluate cost variances and develop improved estimating practices for future jobs.
Additionally, the comprehensive training provides participants with a structured, systematic review process to evaluate bids based on project objectives. The training is designed to help professionals in the construction estimating profession create actionable strategies for improving a construction project’s results, while also providing professionals in the construction estimating profession with the tools to maximize their financial efficiency. This course also incorporates case studies from real-life construction projects and best practices from various industries to assist participants in developing successful construction estimating methods.
Objectives
The following are aims for the training course:
- Understanding how to utilise the principles of post-bid analysis, the value of having it in construction projects.
- Ability to identify and explain the reasons for cost variances between bids on a project.
- Conducting a comprehensive estimating and review for better decision-making and total value creation.
- Developing techniques for improving the efficiency of bids and improving the profitability of the project.
- Utilising practical techniques for performing bid submission evaluations as well as improving the estimating process in construction.
Target Audience
- Construction estimators and quantity surveyors
- Project managers and site engineers
- Procurement and contract managers
- Construction planners and schedulers
- Professionals seeking advanced knowledge in bid evaluation and cost control