Anytime you have a project that is large enough to require a Request For Proposals, you'll eventually be faced with the necessity of comparing several bids. The problem is that bids can often appear very different, and it's generally not enough to simply rely on price - there are various factors that need to be considered to ensure the project is completed properly and on time. It's also common to receive a wide range of bids from various from contractors of varying competency. So the question then is how can you make an effective comparison and ensure you select the right bid?

First off, you need to ensure your Scope of Work document is highly-detailed and very clear. There should be no ambiguity on what it is that you want. This will ensure the bids you receive are quoting for the same requirements. Go the extra mile and provide a list of the materials and supplies you would like used. If necessary, include brands. Unfortunately, not all contractors have your best interests at heart, and many may try to save money by skimping or by using lower quality materials.

Next, spend the time beforehand researching your contractors. You want to be sure the bids you're receiving are from competent, experienced professionals, so instead of just opening your RFP to the marketplace, do background checks and conduct interviews with a select three or four contractors. That way, you'll be confident in your final choice that it's not just about price and that you're getting the best combination of quality and experience.

This sample resource is provided to you free by SINC BUSINESS CORPORATION to help with your compliance efforts and includes no warranty as to its suitability for any particular task. It is only our opinion based on our experience and should not be considered legal advice.