ABSTRACT
A previously discussed, the preparation of a bid or tender figure is a two-stage process; the calculation by the estimator of the true commercial cost to the contractor/sub-contractor followed by the adjudication or settlement process, or as NRM2 refers to it, the director’s adjustment, where a number of factors are taken into account to arrive at the bid figure. These other factors may include some or all of the following:
market conditions;
type of contract;
fixed price or fluctuations;
non-measureable items; and
perceived risk.
