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Malcolm Sharpe: On Construction Bids And Real Estate Property Costs
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Property development is a monumental task that involves considerable planning to pull off any construction project. Proposing and approving a suitable property design, hiring competent workers and contractors, and accomplishing the construction project on schedule are among the most basic but very important objectives somebody like property developer Malcolm Sharpe keeps in mind.
Financial management, on the part of the developer, is greatly influenced by the decisions one has to make when it comes to securing manpower and other resources for the project. Understanding the whole bidding process is essential when choosing the appropriate staff for the project. Demonstrating expertise in this aspect as well as other areas of property development should prove crucial when securing new projects.
Contractors, architects, and builders typically land huge projects by participating in a systematic bidding process. The developer's offer would usually include the project blueprint, the budget for materials, the manpower needed for the construction, and the overall cost for services to be rendered. Managing these bids and finding the best option for the job must be carefully deliberated, since making a wrong choice on who to hire may result in financial problems or poor building quality later on.
In addition, property developers need to craft an accurate bidding document in accordance with the negotiated price. The costs mentioned in the bid can serve as the agreement between the client and the developer as all the work and material investments should adhere to the negotiated bidding price. In some cases, merely offering the lowest bid may not be enough to secure a project; contractors must also present detailed cost estimates and prove their ability to deliver on their service commitments as indicated by their track record and reputation.
All things being equal, the construction bidding process can effectively separate the posers from the real deal. Experienced property developers like project management expert Malcolm Sharpe therefore make an effort to know all they can about each client's requirements before submitting a detailed project bid.
In the end, the job of a property developer has its fair share of rewards and challenges. To learn more about the construction bidding process, visit construction.about.com/od/Bidding-Process/tp/Common-Bidding-Errors-And-Recommendations.htm.
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