As a general contractor, you have the ability to view estimated costs, soft awarded companies, leveled bids, and forecasts directly from your bid package table. This is important to facilitate cost alignment between estimators, project managers, and owners, and easily determine if a project is within budget.
Within your bid package table, there are several things you can do to keep track of project costs and effectively manage the bids you receive, including:
- Entering the estimated cost for each bid package
- Leveling bids for each bid package (BC Pro)
- Marking a soft awarded company for each bid package
- Viewing the forecasted cost for a project
Please note that Bid Leveling is a BC Pro feature and is not available for standard subscriptions. If you are interested in learning more about BC Pro, please contact us at email@example.com.
To view your bid package table
Begin by clicking on your project from the “Projects” page.
On the “Bid Packages” tab, you will see your bid package table which contains each bid package, bid due dates, bidding statistics, and the columns “Estimated Cost”, “Soft Awarded Company”, “Leveled Bid”, and “Forecast.”
Please note that you can edit items such as bid package lead, bid package number, bid due date, and estimated cost for each bid package directly in the bid package table. To do so, click on the item you would like to edit, make the necessary changes, then press “enter” on your keyboard to save your changes, as shown in the video below.
To enter the estimated cost for a bid package
As demonstrated in the video above, you can enter the estimated cost for a bid package directly from the bid package table, or you can do so from within the bid package by clicking on a bid package.
From the bid package “Overview” tab, click “Edit.”
Enter the estimated cost in the “Estimated Cost” field, then click “Save.”
The estimated cost for each bid package will appear in the “Estimated Cost” column and is only visible to coworkers within your company.
An estimated total cost will also appear in the “Total” row at the bottom of your bid package.
To level bids for a bid package (BC Pro)
If your company has a subscription to BC Pro, you can level the bids your company has received by clicking “Level Bids” under the “Soft Awarded Company” column.
You will be taken to the “Bid Leveling” tab where you can view proposals and make cost adjustments for any line items that may have been incorrectly accounted for by subcontractors. For more information on the Bid Leveling feature, please reference our “Bid Leveling” section.
To mark a company as soft awarded
Once your bids are leveled and you are ready to mark a company as soft awarded, navigate to the “Bidders” tab within a bid package, click on the company you would like to mark as soft awarded, then click “Soft Awarded” on the right-hand side.
You can also soft award a company from the “Bid Leveling” tab. To do so, click the drop-down arrow next to the company you would like to mark as soft awarded.
Click “Mark as Soft Awarded.”
Please note that soft awarding a bid does not send a notification to the awarded bidder.
Once a company is marked as soft awarded, the company will appear on your bid package table under the “Soft Awarded Company” column and their leveled bid will appear under the “Soft Awarded Company” column. Please note that if your company has not received proposals for a bid package, that bid package will show the label “no bids” under the “Soft Awarded Company” column.
To view the forecasted cost for a project
The “Forecast” column in your bid package table will show the forecasted cost of each bid package. Please note that the forecasted cost for each bid package will default to the value of the leveled bid for the soft awarded company. If a bid package does not have a soft awarded company, the forecasted cost for that bid package will default to the estimated cost.
The total forecasted cost for the project will appear at the bottom of the “Forecast” column in the “Total” row. This will allow you and your team to compare the estimated cost with the forecasted cost to quickly determine if your project is within budget.
If you have further questions about best practices for managing your bid package table, please contact us at firstname.lastname@example.org. We’re happy to help!