How to evaluated construction tenders from different contractors?
Evaluating construction tenders from different contractors involves assessing each bid against certain criteria, such as price, relevant experience, understanding of the requirements, past performance, technical skills, resource availability, management skills and systems, proposed methodology, and compliance with the requirements set out in the invitation to tender. The criteria are then weighted to reflect how important they are to the client, with price typically given a weighting of at least 60%.
Each tender is then given a score against each criteria, often with 0 being the lowest score and 10 the best possible score. The overall score for a tender can be calculated by multiplying the score for each criteria by its weighting and then adding together or averaging the results for each assessor. Once the client has identified the preferred tenderer they may enter into negotiations with them.
Go with your Gut.