Tendering is the process by which a company or organization invites bids for a project or contract, typically through a public or private request for proposal (RFP) process.
The process involves the release of a detailed project description and specification, which is then sent to a pre-qualified list of contractors or suppliers who are invited to submit a bid.
The bids are then evaluated based on a set of criteria, and the contract is awarded to the contractor or supplier who offers the best value for money.
Tendering is commonly used in the construction, engineering, and procurement industries, and is a standard practice for many government and public sector projects. The process is designed to ensure that contracts are awarded fairly, transparently, and cost-effectively.
✅ Tendering Methods📝
1. Open Tendering
2. Selective Tendering
3. Negotiated Tendering
4. Single-stage Tendering
5. Two-stage Tendering
6. Competitive Dialogue
7. Electronic Tendering (e-Tendering)
The method of tendering depends on the project and the client’s needs and requirement. The client may choose a specific method that best suits the project and the company’s needs.
✅What are the type of tendering ?
There are several types of tendering, including:
1. Lowest-Price Tender
2. Best-Value Tender
3. Quality-Based Tender
4. Design and Build Tender
5. Management Contracting Tender
6. Public-Private Partnership (PPP) Tender
✅Why do construction project need tendering ?
Construction projects need tendering for several reasons:
1. To ensure fair and open competition
2. To achieve best value for money
3. To identify qualified contractors or suppliers 4. To reduce risk
5. To meet legal requirements
6. To improve efficiency and transparency
7. To develop the most suitable solution
✅What are the element or process of tendering ?
The elements of tendering in construction include:
1. Request for Proposal (RFP)
2. Prequalification
3. Bid submission
4. Bid evaluation
5. Award of contract
6. Contract negotiation
7. Performance bond
8. Insurance
9. Licensing
10. Safety Plan
11. Project management plan
12. Closeout documents
These elements are part of the standard process of tendering in construction, and may vary depending on the type of tendering, the project, and the client’s needs and requirements.
