Session 6 of 8
Tool: CM GC Bid Validation
23 CM-GC
NCHRP Research Report 939 presents practical guidance for the post-award administration of projects delivered using alternative, nontraditional methods.
Tool: CM GC Bid Validation (23 CM-GC)
Session 6 of 8: October 27, 2022
What is it?
- Process for checking the fairness of the CM-GC’s bid proposal, typically using the cost-comparison spreadsheet
- A culmination of the opinion of the probable cost process
- A bid may be for the entire project, work packages, or long lead time items
- Independent estimate is a proxy for competitive bidding
Why use it?
- Verify competitive pricing and estimating assumptions
- Facilitate discussion of items with cost discrepancies
- Help with negotiating an agreed-upon price
How to use it?
- Agency uses an agency estimator or independent estimator
- Bottom-up estimates are created
- Use a cost-comparison spreadsheet
Documents
NCHRP ACM Contract Admin – Session 6 Slides