![]() ![]() This percentage is commonly known as the management mark up. Often this mark up is not based on any scientific calculation but rather is derived from rule of thump or expert judgement of the management. Such a practice raises ambiguity in the final tender bid and increases the risk of the tender becoming overly priced or even under priced. This change is often out side the control of the estimator and may affect the adequacy of the tender price. Tendering especially for big and complex projects can be a very costly exercise equally for Employer and Tenderers, but this would be money well spent if the targets achieve successfully (Al Tamimi, 2009). Many experience players of this industry will agree that a proper tendering process fulfils two objective viz a) The Employer gets competitive and realistic price for the project that he intends to undertake and b) The Contractor or the Tenderer upon making due investigations before submitting his tender, fully understands the requirement or nature of the proposed work and Employer’s requirement. ![]()
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