The Architect's Guide to Residential Design by Michael Malone

Author:Michael Malone
Language: eng
Format: epub, pdf
Publisher: McGraw-Hill Education
Published: 2010-11-15T05:00:00+00:00

The Lowest Qualified Price—the Goal of Bidding or Pricing a Project

I prefer to use the term pricing in lieu of the term bidding a project. It is more consistent with the way the costs for residential projects are created and suggests a more hybrid approach to determining the costs for building a house. I will use the term bidding in this chapter when specifically discussing a competitive bid process among multiple contractors. I will use the term pricing to discuss the other possible ways to develop a cost for a project.

When you are determining the whole cost for a project, pricing (as opposed to bidding) also allows the inclusion of parts of the project that you don’t expect the general contractors to provide as a part of their scope of work. For example, when we are developing budgets for projects, we like to include in the cost items such as our fees and those of our consultants, landscaping, audiovisual systems and equipment, custom items such as rugs or lighting fixtures that may be purchased directly by the owner and not through the contractors. This suggests that the contractors’ price is not the whole price of the project but a component (perhaps the largest, but still just a part) of the overall project price.

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