Cost plus fixed fee contracts can suit projects that are difficult to price upfront. Agree a fixed dollar fee, define reimbursable costs, and use open book reporting and spending limits to keep the arrangement fair for both the client and contractor.
An agreed hourly rate does not establish how much a contractor is authorised to spend. Set a clear spending limit, monitor the forecast cost and approve increases in writing to reduce budget surprises and payment disputes.
Tender evaluation is more than comparing prices. Check scope, exclusions, assumptions, experience, risk and capability before awarding the contract.
Short RFP/RFQ/RFT response times reduce the quality of project proposals and ultimately increase project costs. Reduce the chances of this happening by allowing sufficient time for companies to prepare quality proposals.
Be wary of low bids by contractors. Get a number of bids. Compare and check why a low bid is so low. If a low bid is accepted, be especially …
Ensure your request for offer and also your offer documents list a single contact person for contacting for further details or clarifications.
Save time and money with a well organised list of suppliers and contractors that can be contacted for work to help deliver your project.
You don’t want to wait weeks and months for a client to approve your proposal. Save time and win more business by understanding the approval delegation limits of your client.
If you work on an alliance project or any project where some tasks are done by a collection of organisations, make sure there is a clear and simple procedure for …
Keep a careful watch on external dependencies. External things such as deliveries, contracts, and approvals that could delay your project if late. They may not be your direct responsibility and …