Estimating & Project Management Post Bid/Buy Meeting
1) Once the project is 80% bought the Lead Estimator and Project Manager is to schedule a Post Buy Meeting to conduct a review of the Bid versus the Actual bought amounts. 2) The information obtained as a result of that meeting is to be shared at the weekly estimating staff meeting. The Awards tab in Bid Day should be properly filled out and issued as a handout for review by the estimators. 3) A Sample Estimator/Project Manager Turnover Meeting Outline follows to aid in this process:
Post Buy Meeting Agenda/Checklist
<Project Name>
Leopardo Companies, Inc. <Job Number>
Location of Meeting: __________________
Date: ______________
Time: ______________
1. Project Review
Scopes (did you find them to be complete and understandable)? Subcontractor Coverage (was there numerous sub proposals)? Subcontractor Pricing (were the bids in the same price range or was there a large spread)? Bid Day commitments to the Subcontractors (buys/deals/soft buys), did we use them?
2. Buy-Out
Identify the % of the Buy-Out that was made. Identify the original buyable amount (less LCI items and hard bought trades on bid day). What was the Discount taken on bid day? Was Discount taken from individual line items or was it a Lump Sum Discount? Did you notice any cases of doubled up items? (Scope and Costs carried in more than one trade)? Did you need to change any Scopes of Work? If so, which and why? What items were missed in the Estimate that need ed to be bought into a trade’s Scope of Work and what was the value associated with each of the items? What items were relocated from one trades Scope of Work to another trades Scope of Work for convenience or practicality? Did the Risk Management we used on Bid Day hold up or were their issues?
3. Award
Did E stimating identify “locked in” Subcontractors (subs that deals were made with or hard bought)? Identify the subs that you have awarded contracts to. Identify the subs that the bid team negotiated with (soft bought) but did not make a final award to (specify why the award was not made).
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