Bid Overrun Analysis Policy
The Bid Overrun Analysis Policy app will help the construction engineer establish a response in the event that the low bid exceeds the architect approved bid estimate.
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The bid overrun fact sheet will provide all the details about the project, project engineer, the approved project estimated bid, and the actual low base bid. The information about the qualified low bid contractor including the name and when the bid process opened and when the bids expire will be noted. The amount of the overage from the qualified low bidder and the approved estimate should be calculated.
A listing of the other potential bidders and the percentage amount of their bids from high to low will be listed. Explanations of why the low bid was chosen should be explained including whether regional influences affected the bid, the amount of subcontractors and general contractors in the competition, and whether there was significant competition on the day of bidding process. The architect will present proposals for different items and their cost savings to bring the project back into the estimated cost for the project.
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