We have probably all heard the saying - 'you get what you pay for'. Well in construction this is often the case. The cheapest supplier or contractor ends up delivering the product late, sometimes an inferior product or their are hidden costs and expenses which add to the overall cost. Of course in some cases there are suppliers and contractors who are really good at what they do, and can deliver their product on time, with the required quality, and still be cheaper than their competitors.
To ensure you will be getting the required product at the best price it's usually essential to obtain three or more quotations or bids. More importantly these bids need to be adjudicated properly. Part of this adjudication process is to check that the contractor or supplier has:
It may be pertinent to check on the supplier's/contractor's previous experience and even conduct reference checks with their past customers.
In addition ensure that you have allowed for and added any additional costs that you may incur; such as for additional supervision or facilities and equipment which the contractor hasn't allowed, or travelling to visit their off-site manufacturing facilities.
Finally compare the best price (including the additional costs you may incur), with your budget or allowable. If your budget has been exceeded it may be necessary to revise the budget, look for other suppliers, or even adjust your specifications or scope of work to reduce the price.
(To read more on this subject see 'Successful Construction Project Management - The Practical Guide' and 'Building a Successful Construction Company - The Practical Guide'.)
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Copyright 2016 - The attached articles cannot be reproduced for commercial purposes without the consent of the author.
The opinions expressed in the attached articles are those of the writer. It should be noted that projects are varied and different laws and restrictions apply which depend on the location of the contractor and the project. It's important that the reader uses the supplied information taking cognisance of their particular circumstances. The writer assumes no responsibility or liability for any loss of any kind arising from the reader using the information or advice contained herein.
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