What is bid leveling and why is it important?

The bidding process consists usually of:

Bid solicitation: owner sends out RFP, RFQ or IFB with scope, specs, types of contracts and bonding Company needs Bid solicitation: owner uses RFP, RFQ or IFB to describe scope, specifications, types of contracts and bonding required Company needs

Prequalification: contractors are asked to provide credentials, financials, safety records, and previous work to be short listed.

Pre-bid meetings/site visits: clear everything up and see the site.

Bid preparation & submission: written breakdowns of costs, BOQs, bonds and documents prepared.

Evaluation, leveling and award: apples-to-apples analysis and award the one with the highest value or lowest responsible bid.

Read More : https://houseura.com/blog/construction-bidding/

Bid leveling helps compare bids fairly by adjusting for differences making sure you choose the best option with clear and complete information.

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